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Today’s Energy Crisis Is Unlike Anything We’ve Ever Seen Before

Back in 2005, the world economy was “humming along.” World growth in energy consumption per capita was rising at 2.3% per year in the 2001 to 2005 period. China had been added to the World Trade Organization in December 2001, ramping up its demand for all kinds of fossil fuels. There was also a bubble in the US housing market, brought on by low interest rates and loose underwriting standards.

The Truth About The Energy Crisis That No One Wants To Acknowledge

As the 27th United Nations Climate Change Conference continues its second week of meetings, talks, and events in Sharm el Sheikh, Egypt, big energy deals are being made and futuristic decarbonization plans are being laid. Despite the fanfare, however, some of the simplest and most immediate solutions are those that require the least wheeling and dealing.

Gas Price Crisis Overshadows A Crisis In Oil Prices

There has been so much media space dedicated to the gas supply troubles of the European Union and the associated spillover effect for developing economies that another fossil fuel problem has remained relatively unnoticed: oil prices. Oil prices have been on a general decline over the past couple of months, shedding about 30 percent from the peaks reached earlier this year, pressured by expectations of a global economic slowdown.