To the prestigious International Energy Agency :” If oil averages USD 120 per barrel in 2012, the global oil import burden is set to reach a record high of over USD 2 trillion, or USD 5.5 billion per day “
Their press release goes on : ” The current price levels are on average higher than the awful year of 2008, and as such have the capacity to tip the global economy back into recession “
The solution is simple : we have to ween ourselves from oil as soon as possible. It’s not as if already knew it and not as if we lacked alternatives.
