November 17, 2008

Oil weaning should be shared

I was watching the show 60 Minutes where the US President-elect Obama was being interviewed for the first time after winning the election.

According to Obama, despite that the price of oil has gone down energy and a green economy will remain at the forefront of his agenda along with trying to fix the economy.
"You know, oil prices go up, gas prices at the pump go up, everybody goes into a flurry of activity. And then the prices go back down and suddenly we act like it's not important, and we start, you know filling up our SUVs again. And, as a consequence, we never make any progress. It’s part of the addiction, all right. That has to be broken. Now is the time to break it."

If the US, along with other developed countries, will be able to curb high oil consumption as well as reduced greenhouse gas (GHG) emission, then that's good news indeed.

The bad news, according to a recent World Energy Outlook report from the International Energy Agency (IEA), is that rising global consumption of fossil fuels mostly coming from developing countries such as China, India and the Middle East will continue to drive up GHG emissions even if countries such as the US, Europe, Japan and other countries under OECD (Organisation for Economic Co-operation and Development) will reduce their emissions to zero.

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