$20 Per Gallon: How the Inevitable Rise in the Price of by Christopher Steiner

By Christopher Steiner

Think a daily international during which the cost of gas (and oil) keeps to head up, and up, and up. take into consideration the instant effect that will have on our lives.

Of direction, everyone already understands how approximately gas has affected our riding conduct. humans can't wait to junk their gas-guzzling SUVs for a brand new Prius. yet there are extra, not-so-obvious adjustments at the horizon that Chris Steiner tracks brilliantly during this provocative work.

Consider the next societal adjustments: those who personal houses in distant suburbs will quickly detect that there's now not any marketplace for their homes (reason: no one desires to reside too distant simply because it's too pricey to trip to work). Telecommuting will start to extend quickly. Trains turns into the mode of nationwide transportation (as it was) because the rate of flying turns into prohibitive. households will start to migrate southward because the fee of heating northern houses within the wintry weather is just too expensive. reasonable daily goods which are made out of plastic will leave due to the emerging fee to provide them (plastic is derived from oil). And this is often just the start of a big and overwhelming domino influence that our lifestyle will suffer within the years to come.

Steiner, an engineer by way of education sooner than turning to journalism, sees how this straightforward yet consistent upward push in oil and gasoline costs will completely re-structure our way of life. yet what may possibly be miraculous to readers is that each one of those adjustments will not be detrimental - yet truly will herald a few new and intensely promising points of our society.

Steiner will probe how the liberation of expertise and innovation, brought on by means of mountaineering gasoline costs, will swap our lives. The e-book could begin as an alarmist's exercise.... yet don't be misled. the long run could be exhilarating.

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Extra resources for $20 Per Gallon: How the Inevitable Rise in the Price of Gasoline Will Change Our Lives for the Better

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China’s middle class will be the world’s largest in 2025, and India’s will be ten times its current size. Consider this: The United States has 750 cars for every 1,000 people. China, on the other hand, has 4 cars for every 1,000 people. If China gets to only half the ownership rate of the United States, it means an additional 400 million cars on the road, looking for gasoline. 1 That’s almost like adding another two United States’ worth of cars to the world. Moreover, even if the price of oil gets so high that it creates serious demand destruction in places like the United States and Europe, the use of oil will still increase in economies such as China’s, which is growing at a 10% clip.

These companies once controlled more than half the production of the world’s crude, but have been reduced to 13% as bouts of resource nationalism have pushed them out of countries such as Nigeria, Venezuela, Bolivia, and Russia, reducing efficiencies in those countries as well as supply out of them. The big multinational oil companies are desperate for places to spend on exploration, but have few promising places to do it. As a result, these companies spent only $11 billion on exploration in 2007, while spending $58 billion on share buybacks, five times what they spent on exploration.

People want what Americans have had for decades: easy cars and an easy life. These people will get what they want, but in the process they will catalyze a global economic reformation on a scale never seen, changing our lives, changing their lives, changing the earth. There Remains Little Easy-to-Get Oil New people every day get introduced to levels of lifestyle and income that add to the demand for the world’s oil. That pressures demand on one side. On the other side, the supply side, petroleum has been getting harder to find and extract from the earth.

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