Monday, August 08, 2005

Curtis A. Reporting. . .

Oil has now topped $63.00 and I'm sure we will see that reflected shortly on our weekly trips to the gas station. As oil continues to rise, it raises the question if our consumption habits are sustainable. Indeed they are most certainly not. There has been plenty of debate on the subject, but the problem is nothing seems concrete. Many argue that we shouldn't be too concerned, new technology will allow us to access more oil that we know exists but couldn't reach before. Others argue that oil is not even a fossil fuel and is more renewable than we think it is. Of course, then there are those that argue we are running out, and it is only a matter of time.

One thing we know for sure, our economy runs on oil. Walmart, target, and every other store out there depends on trucks to ship their goods. Americans depend on gas to get from their suburban home 30 miles to their jobs. As the prices go up, our economy will stall.

Right now the technology is nowhere close to where we need it to be. Hybrid cars are not efficient enough, hydrogen fuel cell technology, according to Forbes magazine, is still 15 - 20 years away.

Meanwhile, our oil sources are becoming depleted. According to the 2000 numbers, the united states has 37 years left of oil. This is a simple calculation of the amount of consumption divided into the known supplies that exist around the world. However, each of the last four years, our consumption has increased, while the new number of reserves is still lagging.

Could we feasibly be out of oil in 40 years? Probably not, but as demand increases, and reserves stay put, the only thing we can expect is higher oil prices. Can our budgets handle 4 dollars a gallon of gas? Do we have any mass transit to fall back on? Can our industries survive by shipping with more rail? Can our power plants successfully switch to more coal and nuclear power dependency?

Bush's energy bill seems like a feable attempt to deal with what will become a major energy crisis. 14.5 billion dollars will be spent looking for more oil and improving energy emissions. There are tax incentives to buy a hybrid car. However, it doesn't do enough.

The USA might not have a 20 year time frame to ween the country off its mass consumption habit.

What the outcomes of high oil prices are, we'll have to wait and see. It seems though that there is not enough panic in the government to really attack this issue the way that it needs to be attacked. We don't have the luxury of time.