Learn to live with higher fuel prices

In response to complaints about the high price of gas, lawmakers in Washington, D.C., last week held their 40th hearing of the year concerning high oil prices, which have doubled in the past year.

Global oil production has plateaued while demand has increased sharply (especially in China and India). The hearings focused on secondary factors such as speculation, value of the dollar and restrictions on outer continental shelf exploration/production rather than the main cause, which is the imbalance between supply and demand.

If the demand for oil continues to outpace the growth in supplies in the future, it may be time to stop hoping that the price of goes down and start figuring out how to adapt to higher-priced fuel.

Seattle and King County should follow Portland’s example. That city established a Peak Oil Task Force in 2006, and had a report from that group last March that evaluated the city’s preparedness for high-priced oil and goals for reducing fossil fuel use. If we don’t do this planning now, this region will just move from one shock-driven tipping point to another.

Seattle Post-Intelligencer