Most of the increase in the price of oil has been really just the decline of the Dollar,
In Europe the price of Oil based in euros has only increase about 15% or so.
The other 15% I will choc up to speculation at this point yet.
Ok so while I do believe in peak oil, I don’t think it will be all that dramatic (it’s not going to be all of a sudden no Oil or drastically less Oil in a year or something), Don’t get me wrong it will be painful but we will adapt very fast into a non (or low need ) oil future before it becomes too painful.
Most of the tech has already been developed; it will just take awhile (the next ten years) to be widely available.
Five years from now you will have two choices when you buy a new car, Plug-in hybrid or just plug-in.
