While British families deal with rising oil prices and bankruptcy reaches a new peak, American families gasp at high-energy bills and cringe over foreign security at American ports. The Bush administration promises a new energy resource as China makes oil deals with Iran. Where is the world heading? For the moment, nowhere it hasn’t already been.
What does this spell for the future? Andrew McKillop author of "ENERGY TRANSITION AND FINAL ENERGY CRISIS" predicted a continued rise in energy prices saying that after the 2004 short-term ‘price crisis’, which can only intensify in the 2005-2008 period, and within at most 10 years, both oil supply and natural gas supply will enter into constant and terminal decline, due to physical depletion.
Policy makers in late 2004 now admit that ‘oil prices will remain high’ because of fast demand growth and slow growth of supply. Solution? Mckillop explains, "Participation in faster development and construction of non-oil, non-gas renewable energy alternatives to fossil fuels, and especially substitutes for oil, will therefore reduce invasion risks for oil and gas exporter countries. The same effort will also reduce ‘threats to economic security’ of the large oil importer nations and groups of nations."
Until then each household should take it upon itself to conserve energy in the form of oil and gas while sparing our electric power supply as well. In addition home weatherization and the use of bikes and scooters for short transport will go a long way in staving off the energy crises and extended price wars.
With energy bill doubling this spring homeowners would do well to consider ways to reduce spending costs and save money. Home refinancing can cut over 50% off monthly mortgage payments. These funds can then be used to offset high-energy bills.
Save Hard Earned Dollars
Keep your hard earned dollars from going out the window literally. During cold winter months and hot summer days Americans spend more on air conditioning than anything else accept the mortgage and food. That said, investing in weatherization and keeping the temperature at a modest 68 degrees in the winter and 75 in the summer can save hundreds of dollars per month.