Thursday, May 08, 2008

The End of Cheap Oil

Today I received an email about how to protest the rising price of oil in the UK. In case you haven't noticed (or just don't drive), the recent price of petrol is up to near £1.30 per litre

I read the email suggesting that motorists boycott Esso and BP garages and realised that the sender didn't really get it, as probably most drivers don't.. the era of cheap oil is over.

Now, we do sympathetically agree that the Big Oil companies are making ludicrous profits. However, the rising cost of oil is a good thing, as it will force us to transition to a non-carbon society.

It's not rocket science: oil is becoming more expensive because consumer demand is outstripping the available supply. And the oil that is left in the ground is harder, more expensive, and more polluting to extract.