Farewell to the 'oil era' ?
The Swedish government has recently announced its resolution to end its dependence on oil by 2020 through the development of renewable energies. This is a brave and great goal. While other countries think it's impossible, the Swedish have determined to say goodbye to oil.
Meanwhile, in his State of the Union Address, US President George W. Bush also said that the US must break its addiction to oil and replace over 75 % of its oil imports from the Middle East by 2025 through technology.
Currently, 60% of global energy supply comes from oil and natural gas. Oil has become a strategic resource. With the sustained growth of world economy, oil supply faces new test. Geo-political situation in oil production regions has become increasingly complicated. Some analysts think the world has entered an ' insecure era in energy'. It's estimated that 64 out of 100 oil production countries have passed their peak production period while the world oil supply will reach its peak between 2010 and 2020, and then begin to decline.
( For the complete story, Click here )
Meanwhile, in his State of the Union Address, US President George W. Bush also said that the US must break its addiction to oil and replace over 75 % of its oil imports from the Middle East by 2025 through technology.
Currently, 60% of global energy supply comes from oil and natural gas. Oil has become a strategic resource. With the sustained growth of world economy, oil supply faces new test. Geo-political situation in oil production regions has become increasingly complicated. Some analysts think the world has entered an ' insecure era in energy'. It's estimated that 64 out of 100 oil production countries have passed their peak production period while the world oil supply will reach its peak between 2010 and 2020, and then begin to decline.
( For the complete story, Click here )
posted by Oil Shock at 12:21 PM
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