Putting Oil in Perspective
Fareed Zakaria helps to put oil into perspective in this Newsweek Column.
All the growth sectors, from technology to services, are powered by the grid, not gasoline. What will feed this gridâ€”coal, nuclear power or new technologiesâ€”is another large subject, but one thing is certain: it will not be oil.
…Oil will go from being the lifeblood of the industrial world to just one of many sources of energy. After a century and a half, oil will be put in its proper place.
An aggressive priority to develop and distribute renewable energy methods is a central element to a more stable world future. It could be one of the basic legs of US humanitarian aid.