Analysis: Transition From Oil To Take Time

A five- to 10-year transition period is required before coal and hydrogen can provide a solution to the world’s oil shortage, and until then oil prices will continue to shape international relations, experts say.

“Oil transition will last 5-10 years as the velocity of economic and technological shifts speed up,” said Joe McMonigle of The Abraham Group, an expert in energy and former chief of staff of the U.S. Department of Energy and vice chairman of the International Energy Agency Board of Governors.

TerraDaily