The political and economic cost to the US to keep oil supplies secure will probably become unbearable.They are having to pay off the Russians,Chinese,Japanese and OPEC to keep the oil flowing at the current volume.The US so far shows no willingness to become more fuel efficient;smaller cars,more solar etc have not been pushed.The alternative is to go down the technology road and develop alternative and sustainable power systems that use less oil.The internal combustion engine is 12% efficient,electric vehicles 80%.The technology is being worked on by several companies in the US,Japan and China.The gap between the consuming and producing nations will result in fast tracking this technology.Oil may have to stay at a high price to make sure this technology is put into the market.As it is based on the huge gas deposits around the globe,gas prices may rise and oil plateau.However,fuel cell power will limit the power of oil producers to control the market.It could be said that to drag the Iraq crisis out for a long period will be beneficial in the long run.A previous oil crisis gave birth to the English mini and front wheel drive small cars in the late 50's.No doubt this crisis will throw up a similar breakthrough.
