The world may look the same, but it has changed. The
combination of $4.00/gallon gasoline, $130/barrel oil, and $12/BTU natural gas
in the first half of 2008, sent a shockwave through the economy. The term peak
oil, or the point when the maximum rate of global petroleum extraction is
reached is not an arguable concept and many scientists believe we have already
reached that point. Rising oil and natural gas prices affect all areas of the
economy and places business plans in jeopardy along with lifestyles and
livelihoods.
I attended a presentation recently titled, "The Love of Fossil Fuels: The Root of All Evil?" While the title was partly a clever play on the age-old phrase, "Money is the root of all evil," it also had some element of truth on its own.