Need For A Balancing Act: Reducing Oil Dependence Without Triggering A Global Crisis
Article from: OGEL 2 (2007), in Global Oil Markets: A Strategic Interpretation
Three facts underscore the importance of the debate about the future of oil: oil is a finite resource; oil is one of the major anthropogenic sources of carbon dioxide; and the world economy is heavily dependent on oil, especially in the transportation sector. The most important questions are: How do we balance depletion, the environment, and economic growth - remembering that "we" includes human beings in oil-exporting countries as well as those in oil-consuming countries? Will the transition to new energy sources be seamless and easy, for oil-exporters as well as for ...