What politicians won’t say about oil and energy

Nothing brings out Americans’ sense of entitlement more than higher gasoline prices. People are angry, demanding action from political leaders. But politicians don’t get re-elected by speaking unpleasant truths. So I’ll tell you what they won’t: You ain’t seen nothin’ yet.

Markets go up and down, so oil prices may well fall in the near future. Over the long run, they have nowhere to go but up. Our na
Sometime in the next few decades the world’s oil supply will peak, meaning we’ve used up half of this one-time fossil fuel benefit. Some experts believe the peak will come very soon. The remaining half of the oil will be largely located in hostile parts of the world, and it will be more difficult and expensive to reach.

As I’ve written before, no hydrogen economy will miraculously appear to power the sprawling, exurban American lifestyle. Hydrogen is a problematic fuel – remember the Hindenburg – and it’s highly unlikely it can be grafted on the many platforms of the oil economy. That oil economy powers the entire modern world.

Arizona Republic