World is headed for an energy crisis
Venezuelan President Hugo Chavez on Saturday said the world was headed toward an energy crisis but said there was little chance of OPEC countries increasing production because they were near "the limit of their capacity."
"There is very little chance because nearly the whole world right now is producing petroleum at their maximum capacity. In Venezuela, for example, we can’t produce a single barrel more," Chavez told reporters in the central Spanish town of Salamanca where he is attending the 15th summit of leaders from Spanish-and Portuguese-speaking countries.
In the last little while I’ve run in to people who question whether the EnergyStar rating actually means something or whether our Toyota Echo really gets 41 mpg (US). Yes these things make a difference and if we are really upset at the oil and gas companies it is time to start changing our lifestyle. We have almost reached the point where world demand for oil has exceeded capacity. The price will only go up from here. Most Canadians should look at high efficiency furnaces which will more than pay for themselves after the next round of natural gas price hikes. It is time to plan to trade in vehicles that use more than 10 litres of gas to go 100km. It’s time to recycle. Large organizations should start looking at Geothermal energy. It is time to stop sticking our head in the sand about this.