Should not the world find a new source of energy?

Should not the world find a new source of energy? | Peak Oil News ...: The term “peak oil” doesn't mean that the...

The crude oil has reigned supreme for most of the last century. But, the grim reality is that peak oil is already here. The term “peak oil” doesn’t mean that there isn’t any more oil in the world. It simply means that we have reached the point at which global oil production tops out, then starts to decline. And thus, the basic law of supply and demand virtually guarantees that oil prices will continue to climb higher and higher. This is happening just as billions of people are adopting modern lifestyles that demand even more energy demands that oil alone simply cannot meet. Not for the long haul, anyway. Worldwide, oil demand is up nearly 15% since 2002. When we break that down, it amounts to 60,000 barrels every minute or more than 1,000 barrels every single second. Most of this new demand came from countries like China and India and other emerging markets in South Americ...

Full article: http://peakoil.com/alternative-energy/should-not-the-worl...