Second, is post 1980. The mirroring of the import line (green) with red consumption line AND the gradual decline of domestic production (black line). It is hard to see, but imports have increased at an increasing rate significantly as consumption increased and domestic production decreased.
Oil is found, literally, in between a rock and a hard place. Is it not ironic that we find ourselves as a nation, in terms of our energy policy, in the SAME place figuratively AND literally? Just sayin'...
 |
| Source: Wall Street Journal |
I think it's clear that the oil era is ending. As production declines and consumption increases at equally draining rates, it indicates that petroleum is an unsustainable energy source that needs to be replaced by renewable fuels, and soon. I wonder what Joey thinks about this...
ReplyDeleteWell Matt, I think that this is definitely a concern our generation needs to be worrying about. The new Chevy Volt is very comforting because this could be the beginning of the end for the need for gasoline. You can tell because so many cars are using alternate fuel sources. What do you think Korina?
ReplyDeleteWell Joey, I agree and am equally comforted by a new energy source. A new energy source could even be the spark of new businesses, which would always be of help to the economy. Hopefully this will help drop the unemployment rate in our country.
ReplyDeleteIt is interesting to notice that in the 50's consumption and production were very close: Not many exports but that today that gap is considerably wider: heavy reliance on foreign imports. Like Matt said, the oil era might very well be ending. Along with peace
ReplyDelete