By Alan Boyd
[...] From the global perspective, the US Department of Energy has calculated that oil demand will grow by 35% between 2004 and 2025 - from 82 million barrels per day to 111 million - largely because of the voracious appetite of newly industrializing countries such as China and India.
Output would need to rise by a similar amount. However, this assumes that the major producers, including Saudi Arabia and Nigeria, will double or even triple their production; few independent analysts now believe this will be possible. A greater likelihood is that crude-oil supplies to Asia will begin to dry up within two decades.
"Today there is a growing recognition that no single energy technology can replace fossil fuels, but there is still no recipe that tells us how to combine energy technologies into a healthful brew that can save our planet and our civilization."
Biofuels, like other alternative forms of energy, will become competitive once the petroleum begins to run out. But the ethanol mix isn't the only blend economic planners will have to get right before that unnerving day dawns. [...] Full article, click here
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