Why Oil is So Expensive.

From The Oil Drum, a piece looking at the real cause behind rising fuel prices. Nope, not speculators. Not Bush preventing off shore drilling. Pretty simple, really, a finite resource and the leading economies failing to use less of it. Oil demand is outstripping supply. At some point sooner or later, the supply will start to decline, leading to tremendous dislocation

We need to deal with the reality of the end of cheap oil (and the approaching end of oil) and start figuring out how to ration the oil that is left to take us as gracefully as possible to an alternative energy future. The post has some immediate suggestions to take.

The rising global hunger and increasing economic contractions due to higher fuel prices are just the first signs of how ungraceful this transition will be if we don't enter it consciously.