Time is running for oil-based prosperity so we must look to alternative energy – fast

THE recent increases in the price of crude oil resulting from just a slight upsurge in global economic sentiment is a very good indicator of the source of current economic problems.

These oil price increases also place a huge question mark over all “stimulus packages” in relation to the effects which they will have on the energy supply-demand curve.

Over the past century cheap oil has gradually replaced the “labour” used to add value to natural resources in the wealth creation process.