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    Posted October 27, 2008 by
    This iReport is part of an assignment:
    Pain at the pump

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    Crude Oil at $62.50/B | OPEC $52.57/B




    The oil prices went down. We did it in only three month. From $147+ the crude oil price went down about 52%. The exporting countries are feeling now the pain and their Central Bank budgets and government spending is lowered. The OPEC members just slashed 1.5 million barrels from the market (efective Nov. 1st) and the prices are still going down: A sweet payback for the consumers! (Today price is only $62.50)



    New productions cuts are on the drawing board of the oil exporting cartel, OPEC, in order to avoid what the world has seen in 1998 when the oil prices crushed at a level of only $10.00





    > Maybe we will witness some ups and downs in the crude prices, but, definitive, the trend is switched towards green fuels and renewable energy: the trend actual and clear, with political backing, with  social and economical support.



    This trend leourset was lower crude prices (the reaction), as a direct action (almost) by the American economy alone.




    We have to congratulate ourselves, because this was done by us, with blood, sweat and tears. But we do not have to let the guard down and continue on the path of alternative fuel energy source: wind, solar, bio diesel, thermo, nuclear, natural gas and maybe "clean coal" if this concept exists at all.




    No, we don't have to let the guard don and keep trying to save energy, lower our carbon-foot print. We can do it and do it better! We can save energy, and even enjoy it. We have to remember "the past pain at the pump" and the prices hike of the rest of things that surrounds us: food, energy, finances the cost to do business, exports, education, books, travel and discretional spending, along with all the toys we like.




    Even at around $40 a barrel, the alternative sources of energy have to become a standard of our way of living, of doing & generate business and life to come, and maybe we can even save the Planet in the process. There is no way back!



    The technological revolution that was ignited when the crude oil barrel reached $147+ have to maintain is momentum and propel us to a new understanding or the word "green and renewable energy". For every 1 million habitants, the new alternative & green energy industry can generate at least 5,000 new jobs, per each type of source: wind, natural gas, thermo, bio diesel, additional nuclear power plants, "clean coal" and electrical propulsion.




    For all practical reasons, In the near future, two to five year, max 10, the crude oil will still be use extensively in the chemical energy, but not as a major form of energy for transportation propulsion.



    The fossil fuels are dead! Long live renewable green energy!









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