The Energy Emergency

Oil is America’s Achilles heel. WE are addicted to it. Every American consumer burns about double what a European consumes–26 barrels a year for us, 12 for Europeans. We have 5 percent of the world’s population and consume 25 percent of the world’s oil, and we have only 3 percent of the world’s reserves. If you think there is a gas crunch now, marked by the largest oil price spike in a generation, it will be a bagatelle when China and India bring a couple of billion more people on to their highways: They are replicating our love affair with the automobile. Expect them within a generation to buy 80 million cars.

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