Emulate Japan to cope with oil shocks

With the price of oil rocketing to the unprecedented level of US$130 a barrel and more, there is a talk of another oil shock. Unlike past instances, this one is unlikely to subside and may indeed keep intensifying. The only way out is for Western nations, the gluttonous users of petroleum, to cut their consumption and emulate Japan in its consistent drive for energy efficiency and alternate sources.

AsiaTimes