It seems appropriate that, at the same time as the US oil dependent car industry faces a new future, a new interview with George Monbiot and the International Energy Agency (IEA) also indicates the urgent need for change. George interviews Fatih Birot of the IEA whose agency has just completed an extensive study of the 800 largest oil fields, a study which indicates a decline rate of 6.7% (previously the IEA estimated this at 3.7%).
The punch line is (and hopefully the car companies will begin to think creatively about this, not just their executive bonuses) - production of conventional oil will peak on or about 2020, and that's a rather short time, for us for rejig our global economy and especially our transport systems.
Any innovative entrepreneur who loves to tinker with electric motors, biofuels, fuels from algae, or trained mice on steroids inside your new car engine, watch this video to help you define your business opportunity. And start soon, otherwise, we may all move back to walking everywhere, and that would shake up the whole industrial era somewhat.
pic of George Monbiot from Monbiot.com
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