The answer is 'yes' and not just because "Analysts are now openly considering the prospect that high oil prices are here to stay." -the proximate cause is "with most countries producing at full capacity and long lead times to bring on extra capacity in Saudi Arabia, the market is expected to remain tight for a considerable period." but then we start to hit the issue of peak oil where we have extracted more than half of the world's oil and still face rising demand. Worst case scenario on this is that we face a new and global Dark Ages with accelerating conflicts etc. Best case; we manage the transition into non-petroleum economies.
Now ask; what does it mean to love our neighbours now, in an oil-peaking world?
Guardian Unlimited | The Guardian | Is it goodbye to cheap oil forever?:
22 June 2005
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