Will The Oil Glut Continue?

 

What if the current cheap oil is replaced with expensive oil?  Will what is happening now in Venezuela be happening in Brooklyn?  Will we be ready?  Will community gardens help ease the transition?

While we may be able to use wind and solar power to replace fossil fuels in our electrical grid, the transportation sector will prove much more difficult.   Forget about the Teslas, Leafs and Volts.  It’s moving freight, not people, that will be the problem.  Ships, airplanes and trucks are not going to be battery powered.  The numbers just don’t work.  And these are the backbones of modern industrialized society, the means by which we get our cheap imported food, cars, shoes, clothes, electronics and just about everything else we consume.

Read this analysis of what’s going on now in the oil industry.  It’s a long article but worth the read.  Thanks to Dan Miner for bringing this to my attention.

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