And grains require significant hydrocarbon inputs to production and distribution if 7 billion are to be fed anything. This is one reason I remain (stategically) in some oil and gas plays, notwithstanding bearish market sentiment and an expectation of near term volatility.
Is it all sustainable? The answer is YES while the is (still) natural gas aplenty and while we can (still) probably cut our energy bills in half without much effort, discomfort or financial outlay.
Actually I believe the market will, over the long term (meaning 5+ years), be reasonably efficient in forcing people to be less wasteful. This is because the supply side of energy will demand higher prices for projects, be they based on hydrocarbons, nuclear, wind, tide, hydro or thermal to go ahead.
In simple speak... who needs a carbon tax to be frugal if your energy bill is doing all the talking?
