Oil prices : from a recession to another

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.

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A great concept car : the Volkswagen Up! Lite

Even if electric vehicles are due to be a major hit this decade – I will soon propose you a series of articles on that – energy efficient internal combustion engines (and hybrids) still may be a solution to cut our oil consumption.

The Volkswagen Up! Light with its extremely efficient engine might be the perfect example to exemplify this. Ultra light (less than 700 kilograms / around 1,500 pounds) it achieves a mileage of 2.44 liters for a 100 km (70 MPG).

This represents good omens for those who want to keep a traditional car with oil prices due to reach again $100 this year.

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All cars hybrid by 2020 ?

According to a study carried out by IBM’s Institute for Business Value – Automotive 2020: Clarity Beyond the Chaos – and quoted by EcoGeek, all cars may be hybrid by 2020.

This is reinforced by the fact that Toyota, the leading car maker and producer of the global success Prius (pictured left), has previously stated that all its models will be hybrid by this date.

But this study also forecasts several major changes such as decreasing carbon dioxide emissions per unit and the increased use of biofuels.

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