Here we are in middle America paying $4.00 a gallon. Yeah, yeah, Europe, you don’t have to say it. I already know. But in a country where the idea of mass transportation is two people car-pooling to work, four dollars is a lot of money, even in a “fuel-efficient” car. [image by tvol]
So what’s the solution? Big Oil is being forced to search for new methods by which to acquire their resources, which means that the cost of extracting the oil from new places will raise the cost some more. Or, there’s the highly debated use of methane hydrates under the sea floor (also a costly means of new energy).
It’s a curious situation. In times of need, we – as humans – tend to produce something grand. But with oil companies making billions by the day, what desire do they have to rush things? Are we on the cusp of a new era of clean, efficient, and renewable energy? Or are we on the verge of personal bankruptcy because we own a garage full of H3’s?