So long to cheap oil

Several ominous transportation issues recently converged that foreshadow a major problem. It began with truckers grinding large sections of our national highways to a halt in protest of rising fuel prices. These same fuel increases forced several airlines to close or cut operations. Meanwhile, car manufacturers were reporting some of their worst numbers in a generation-again, with much of the blame focused on rising gas costs.

Even the average consumer has felt the effects. These days, almost everyone cringes as they drive by gas stations and see price increases on a weekly, if not daily, basis. Unfortunately, these rising costs are not short-term in nature but, instead, a permanent price correction driven by a rapidly decreasing worldwide supply of petroleum.


Often termed “Peak Oil,” this reality is centered on the fact that oil, like natural gas and coal, is a nonrenewable fuel source. Meaning that, once you’ve used a gallon of it, then that gallon is gone forever. Compare this to renewable sources such as wind and solar power that exist in a continuous supply.

Unfortunately, experts from every sector of the energy economy are starting to realize that the world has already consumed the vast majority of cheap and easily available oil. Indeed, even top executives from several petroleum companies like Total and Shell are warning about this very real problem.

Knoxville News Sentinel