After the Recession, an Energy Crisis Could Loom
by mc on Nov.16, 2009, under News
The credit crisis could spark a rise in oil prices
Here’s the bad news about the global recession’s potentially coming to an end: the recovery could spark a massive energy crisis with increased demand for fossil fuels from China and other developing countries, tighter oil supplies and skyrocketing oil prices. And this is just in the near future. The longer-term picture looks even more daunting. If the world continues to guzzle oil and gas at its present pace, global temperatures will rise by an average of 6°C by 2030, causing “irreparable damage to the planet.”
Source: Time magazine
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