The oil supply problem will not disappear. Oil experts have started to voice their warnings about the coming depletion of oil reserves roughly ten years ago, though in vain. Only 5 years ago oil was traded at $12 per barrel; that was really close to a free lunch. And the world’s lunch grew dramatically: Daily global oil consumption is estimated by OPEC to have been around 82.4 million barrels in 2005. That amounts to a total of more than 30 billion barrels annually, with a rise of 1.4% forecasted for 2006. Is that too much pessimism for you? Step outside, look upwards and you can see the most reliable form of energy for the next couple of millions of years. The sun delivers about 11,000 times the energy we are currently in need of! This means, if we can utilize only 1/11000th of the solar energy, we could actually give up creating lunar landscapes on our small earth.
For Complete IIPM - Article, Click on IIPM-Editorial Link
Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006
For Complete IIPM - Article, Click on IIPM-Editorial Link
Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006
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