As the US congress argues over what is going to go into the stimulus bill, something that must not be forgotten is that while the economic crisis started in the housing and credit markets, it was immediately preceded by a massive spike in fuel prices. Global demand for oil had reached the absolute limit of the supply chain. The faucet could not open up any further. While the economic crisis has dropped demand and prices have dropped to a 5 year low the price will certainly go up as soon as the economy begins to pick up.
There will be arguments for continuing with fossil fuels because in the near term they will be cheaper and if we succumb to that temptation it will be a mistake. Most oil experts agree that we are certainly at the peak of supply. Future economic growth will have to take place while the price of fuel increases in price at an ever higher rate. Going green is neither a slogan nor a choice. It is the only way forward. We must all be involved and we must be creative.
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