Article: The key Middle Eastern members of oil cartel OPEC were tonight coming under pressure for an immediate increase in production after a warning from Goldman Sachs that prices could hit a peak of $95 a barrel by the end of the year.

With a new bout of speculative activity today driving Brent crude to within a few cents of the record $78.65 reached last summer, Goldman said shortages of supply were behind the steady rise in oil prices.

A further increase in oil prices would add to inflationary pressures in developed countries, with some UK analysts already fearful that dearer energy increases the risk of at least one more quarter-point increase in base rates from the Bank of England.

Despite recent declines in North Sea output, Britain's status as an oil producer has also been a contributory factor to the recent rapid rise in sterling against the dollar.

The pound today exploited nervousness about further fall out from the US sub-prime mortgage crisis to climb above $2.04 for the first time in more than a quarter of a century.

... "Our estimates show that keeping OPEC production at current levels and assuming normal winter weather, total petroleum inventories would fall by over 150m barrels or 6.5% by the end of the year, which would push prices to $95 a barrel with a demand response."

OPEC today sought to calm increasingly frenzied global energy markets when it predicted that world demand for oil would grow only modestly in 2008. It downplayed the need for extra production, citing greater energy efficiency, higher taxes and conservation as factors limiting the growth in demand.

1b/ Cheap Gasoline in Producing Countries Will Have The Rest of the World Paying More (CIBC World Markets, Wed 18 Jul)

http://research.cibcwm.com/economic_public/download/feature1.pdf

Comment: CIBC World Markets have produced several reports relevant to Peak Oil, but have been quiet of late. The conclusion of this report is that rocketing internal consumption of oil products in the oil exporting countries means they will be exporting less oil, with oil prices rising to $100/barrel shortly. The problem in a nutshell can be summarised by the title of Table 1: Traditional Suppliers Export Capacity Will Decline.

Article: Global oil demand growth is headed for a rise of close to 2% in 2007, double last year’s pace. Unfortunately, supply growth will be hard pressed to keep pace, with conventional production having recently fallen for a third year in a row, and many projects like the Thunderhorse

Gulf platform or the Kashagan project in the Caspian Sea mired in delays. As a result, West Texas Intermediate should set a new record high of US$80 per barrel this year as markets become discernibly tighter. WTI is expected to rise further to an average of US$90 in 2008 with either it, or its European price equivalent Brent, likely to touch triple-digit levels towards the end of next year (Chart 1). The arrival of US$100 oil is likely to come earlier than first predicted back in 2005 (April Monthly Indicators) when we pegged the end of the decade as the likely period…

1c/ PETROLEUM ($US/bbl) (Bloomberg, Wed 18 Jul)

http://www.bloomberg.com/markets/commodities/energyprices.html

PRICE CHANGE % CHANGE TIME

Nymex Crude Future 75.05 1.03 1.39 07/18

Dated Brent Spot 79.08 .61 .77 07/18

WTI Cushing Spot 75.05 1.03 1.39 07/18

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2/ International Energy Agency Medium-Term Oil Market Report – Follow Up (IEA, July 2007)

http://online.wsj.com/public/resources/documents/iea20070707.pdf (1.87 Mb)

Comment: As noted in item 1 of last Wednesday’s ODAC News, the IEA released their Medium-Term Oil Market Report Monday of last week, which was duly reported by all the major media outlets, including the Financial Times and the Wall Street Journal. The IEA has been hinting at oil supply problems for at least the last three years, but last week’s MT-OMR took everyone by surprise because it went beyond hints and stated clearly – oil demand will outstrip supply within the next 5 years. Not exactly a declaration of imminent Peak Oil, but the end results are the same. Anyone familiar with Peak Oil will know what the implications of demand outstripping supply are – not nice. The big question was, would any of the media outlets follow up the IEA report with a discussion of the implications of the report? It can be stated that the response was pathetic. ‘The media’ is still not ready to let their readers face reality. But two outstanding articles were published, one by none other than the London Times, which does not have a track record of reporting on Peak Oil. To be fair to the UK’s Independent and Guardian, they have reported on Peak Oil in the past.

2a/ Are these the last days of the Oil Age? (The Times, Mon 16 Jul)

http://www.timesonline.co.uk/tol/comment/columnists/william_rees_mogg/article2080497.ece

Article: [Last paragraph] … The world is coming to the end of the age of oil, which produced its own technology, its balance of power, its own economy, its pattern of society. It does not greatly matter whether the oil supply has peaked already or is going to peak in five or 12 years’ time. There is a huge adjustment to be made. There will be some benefits, including higher efficiencies and perhaps a better approach to global warming. But nothing will take us back towards the innocent expectation of indefinite expansion of the first months of the new millennium.

2b/ U.S. energy options (The Washington Times, Tue 17 Jul)

http://washingtontimes.com/apps/pbcs.dll/article?AID=/20070717/EDITORIAL/107170006/1013

http://www.odac-info.org/news_archive/documents/2007/US_Energy_Options.htm

Comment: Written by Written by Daniel L. Davis, half the Editorial is now missing on the Washington Times website. I have copied an e-mail someone sent me with the whole text, which is the second link.

See also: On the Precipice: Energy Security and Economic Stability on the Edge (ASPO-USA / Daniel L. Davis, Mon 16 Jul)

Article: The 117th meeting of the National Petroleum Council (NPC) will convene tomorrow in Washington to unveil a new report outlining future challenges the United States faces in ensuring sufficient supplies of energy. Many of the report's recommendations concerning global energy supplies and future U.S. energy strategies are suitable, timely and practical. Unfortunately, the positive aspects of this report are overshadowed by its most glaring omission: It fails to address likely supply shortfalls and makes no mention of the consequences that America would suffer in such an event.

This failure is dangerous because it masks critical facts that would otherwise make obvious the requirement for immediate action. A continued failure to face the hard truth today will result in severe economic disruptions for America tomorrow.

I hesitate using such strong language because most often such gloom-and-doom proclamations are dismissed out of hand as being overly pessimistic. But the facts in this case argue persuasively that such words are both accurate and necessary. The NPC report, "Facing the Hard Truths about Energy," explains that supplying energy to a growing global economy through 2030 will be very "challenging" and recommends five strategic goals that involve various aspects of increasing energy efficiency and diversifying supply.

... Despite these stark warnings regarding our country's vulnerability to oil-supply reductions and his clarion call to action, the government did nothing. If it is clear that a disruption in supply would have profound impacts on our country, and both evidence and common sense indicate that in the near future the supply of oil will fall markedly below demand, a mitigating action plan must be an immediate, non-negotiable requirement.

In a special report published today on the Web site for the Association for the Study of Peak Oil and Gas — USA (www.aspo-usa.com), I list a series of prudent recommendations for both the government and energy industry to begin implementing immediately. In this report, I lay out in detail why optimistic projections such as those found in the NPC report have virtually no chance of being realized.

After his "Shockwave" experience, Mr. Gates conceded, "Even among individuals who have spent years contending with security and energy issues, it was surprising to learn the extent to which seemingly small disruptions in world oil supplies could inflict serious economic damage and alter the global security environment." What a tragedy it would be if we discover the truth of his words as a result of our failure to act when sufficient time and knowledge were available. Already two years have passed since his warning, resulting in no meaningful government or industry action.

This may be our last chance.

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3a/ National Petroleum Council Report on Peak Oil (Energy Bulletin, Wed 18 Jul)

http://www.energybulletin.net/32208.html

Comment: The US National Petroleum Council has been investigating Peak oil for over a year now. The Energy Bulletin page contains an NPC Press Release, plus links to relevant documents. The report has nicely avoided any sense of urgency regarding impending oil shortages.

3b/ The National Petroleum Council Report (The Oil Drum, Wed 18 Jul)

http://www.theoildrum.com/node/2789

Article: The National Petroleum Council is due to report today on a study requested by US Energy Secretary Bodman. Here are some of my concerns about it.

3c/ National Petroleum Council Report Comes Up a Dry Hole (ASPO-USA / Energy Bulletin, Tue 17 Jul)

http://www.energybulletin.net/32147.html

Comment: A Press Release from ASPO-USA pointing out some of the shortcomings of the NPC report.

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4a/ Iran, Turkey sign Europe gas deal (Arabian Business, Sat 14 Jul)

http://www.arabianbusiness.com/index.php?option=com_content&view=article&id=496186:iran-turkey-sign-europe-gas-deal&Itemid=72

Comment: There have been several articles over the last few months suggesting that the Nabucco gas pipeline project is dead because of lack of gas supplies. The latest news of a deal between Turkey and Iran has revived the project, and seems to imply that it is definitely going ahead. However, central to the project is Turkmenistan, and today’s Energy Alert from Energy Intelligence states: “But it's all preliminary, and Turkmenistan isn't yet on board.” Iran is also currently a net importer of gas, from Turkmenistan. Item 4c would suggest that Turkmenistan will be near full capacity if it is to supply 30 bcm/annum of gas to China – it is doubtful it could supply Nabucco as well.

Article: Iran and Turkmenistan will pump 30 billion cubic metres of gas a year to Europe via Turkey, leaving no need for alternative supplies to the Nabucco pipeline project, a senior Turkish energy official said on Saturday.

On top of this, Turkey and Iran have also agreed that the Turkish Petroleum Corporation (TPAO) will produce 20 bcm natural gas in the three phases of Iran's South Pars gas field, the official, requesting anonymity, told Reuters.

Iran and Turkey have signed a preliminary agreement to pump Iranian gas to Europe via Turkey, Iran said earlier on Saturday, a move that will open a new export market for Iran's massive reserves...

4b/ US queries wisdom of Turkish-Iranian gas deal (NTV MSNBC, Mon 16 Jul)

http://www.ntvmsnbc.com/news/414345.asp

Comment: The USA was quick to make its point of view known. Not happy with the development.

Article: It was not wise to rely on Iran as either a supplier of natural gas or as a transit country, a spokesperson for the US embassy in Ankara said Monday.

Commenting on a memorandum of understanding signed between Turkey and Iran on the weekend that foresees natural gas from Turkmenistan being pumped through Iran to Turkey and then for export, US embassy spokesperson Kathy Schalow indicated problems could arise.

Schalow said that International Atomic Energy Agency (IAEA) sanctions on Iran due to its controversial nuclear energy program could become an issue and an increasing dependency on Iran as a source or corridor of natural gas seemed unwise.

The US would continue to work with Turkey in enhancing the energy sources in the Caspian basin and developing an infrastructure that bypassed Iran for the transportation of the energy originating from this area to Europe, she said.

4c/ China, Turkmenistan sign natural gas deals (International Herald Tribune, Tue 17 Jul)

http://www.iht.com/articles/ap/2007/07/17/business/AS-FIN-China-Turkmenistan-Gas.php

Comment:

Article: China signed deals Tuesday to produce and import natural gas from Turkmenistan, a major step in the realignment of the resource-rich central Asian country away from its former rulers in Russia, a news report said.

Details of the deals, signed during a visit to Beijing by Turkmenistan President Gurbanguly Berdimuhammedov, were not immediately available, said Dow Jones Newswires.

The report comes amid a flurry of deals by Chinese government oil and gas companies to explore for and develop energy sources in former Soviet republics, Africa and elsewhere.

China has been in talks to buy 30 billion cubic meters of natural gas a year from Turkmenistan and neighboring Kazakhstan to be delivered through a new pipeline to feed China's surging demand for energy.

Turkmenistan's natural gas reserves of 2.8 trillion cubic meters, the second-biggest among all ex-Soviet republics after Russia, are a major prize in the region.

Turkmenistan has been forced up to now to export its gas through Russia and Ukraine, which have their own gas companies that have squeezed out their smaller rival.

Turkmenistan is eager to break free from Russia's influence and sees exports to China as one solution.

Turkmenistan and China signed an agreement in April 2006 to build the pipeline and are negotiating prices.

4d/ CNPC to import 30 bln cubic meters of natural gas annually from Turkmenistan (China View, Wed 18 Jul)

http://news.xinhuanet.com/english/2007-07/18/content_6391043.htm

Article: China National Petroleum Corporation (CNPC), the country's largest oil producer, announced Tuesday that it will import 30 billion cubic meters of natural gas each year through the planned Central Asia Gas Pipeline for 30 years from Turkmenistan.

Witnessed by Chinese President Hu Jintao and visiting Turkmenistan President Gurbanguly Berdymukhammedov, CNPC signed the Amudariya River gas production sharing contract and gas sales and purchase agreement with The State Agency For the Management And Use Of Hydrocarbon Resources of Turkmenistan and Turkmen gas here on Tuesday.

Both countries signed a general agreement on gas cooperation in April 2006.

The signing of the two agreements is a substantial step forward to materialize the general agreement, indicating that gas cooperation between the two countries had entered a new stage, said CNPC in its news release.

The planning of Central Asia Gas Pipeline, actively supported by Central Asia countries, would be conducive to the collaboration and development of Central Asia, said CNPC.

Berdymukhammedov said previously that Turkmenistan has sufficient natural gas resources to supply China, Iran and other markets.

China aims to slash its energy consumption per 10,000 yuan of GDP by 20 percent by 2010 so natural gas, seen as an ideal way to meet this target, is in huge demand nationwide.

China's first west-east gas pipeline went into commercial operation at the end of 2004, extending 4,000 kilometers from the Tarim Basin of Xinjiang and Shanghai.

The CNPC has planned to build a second west-east natural gas pipeline from 2008 to 2010, which will run 6,500 kilometers from northwest China's gas-rich Xinjiang to the populous southern province of Guangdong, carrying 30 billion cubic meters of gas a year.

4e/ Debates Over Iran And Natural Gas (TurkishPress.com, Tue 17 Jul)

http://www.turkishpress.com/news.asp?id=185733

Article: But, it shouldn’t be forgotten that no agreement has been signed with Iran; rather, there is a memorandum of consensus to establish a workgroup to see if there is grounds for an agreement. If the two countries can find such grounds within a month, workgroups will start work on this, including the issue of selling and developing three gas fields in Iran, and maybe then an agreement will be reached. At this point, there are a few questions:

1. These efforts with Iran came on the eve of Turkey’s weekend general elections. Might this not be a coincidence?

2. The US has already announced its opposition. Could such an agreement can be signed and implemented in spite of the US?

3. Such cooperation challenges Russian domination in the region and so could disturb it. Will this situation have a negative impact on Turkey’s other energy projects with Russia?

4. If these efforts bear fruit, how will be Turkey benefit? According to energy and diplomatic sources I spoke with yesterday

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5a/ UN warns it cannot afford to feed the world (Financial Times, Sun 15 Jul)

http://www.ft.com/cms/s/7345310a-32fb-11dc-a9e8-0000779fd2ac,_i_nbePage=ff3cbaf6-3024-11da-ba9f-00000e2511c8.html

Article: Rising prices for food have led the United Nations programme fighting famine in Africa and other regions to warn that it can no longer afford to feed the 90m people it has helped for each of the past five years on its budget.

The World Food Programme feeds people in countries including Chad, Uganda and Ethiopia, but reaches a fraction of the 850m people it estimates suffers from hunger. It spent about $600m buying food in 2006. So far, the WFP has not cut its reach because of high commodities prices, but now says it could be forced to do so unless donor countries provide extra funds.

Josette Sheeran, WFP executive director, said in an interview with the Financial Times: “In a world where our contributions are holding fairly steady, this [cost increase] means we are able to reach far less people.”

She said policymakers were becoming more concerned about the impact of biofuel demand on food prices and how the world would continue to feed its expanding population.

The warning could re-ignite the debate on food versus fuel amid concerns biofuel production will sustain food inflation and hit the world’s poorest people.

The WFP said its purchasing costs had risen “almost 50 per cent in the last five years”. The UN organisation said the price it pays for maize had risen up to 120 per cent in the past sixth months in some countries.

Biofuel demand is soaking up grain production as is rising consumption in emerging countries for animal feed.

“We face the tightest agriculture markets in decades and, in same cases, on record,” Ms Sheeran said. Global wheat stocks have fallen to the lowest level in 25 years, according to the US Department of Agriculture.

Ms Sheeran added: “We are no longer in a surplus world.”

5b/ Biofuel producer faces supplier friction (Financial Times, Fri 13 Jul)

http://www.ft.com/cms/s/3f443e78-3189-11dc-891f-0000779fd2ac,_i_nbePage=5b566934-3013-11da-ba9f-00000e2511c8,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F3f443e78-3189-11dc-891f-0000779fd2ac%2C_i_nbePage%3D5b566934-3013-11da-ba9f-00000e2511c8.html&_i_referer=

Comment: Login required for full article. It looks like biofuel companies in Europe are having problems because the feedstocks are becoming too expensive.

Article: A dispute between a recently floated biodiesel company and its supplier has shown how pricing conditions in the biofuels market are burning some of the companies involved.

Shares in Renewable Power and Light, an Aim-listed company whose assets are in the US, fell nearly 70 per cent on Friday after it announced expected losses because of increased commodity prices.

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6/ Lenders predict UK property crunch as rates take effect (The Times, Tue 17 Jul)

http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2087112.ece

Comment: In this case ‘crunch’ means not rising at the ridiculously high rates of the last few years, and perhaps below the rate of inflation therefore giving a negative real rise. Bu there are plenty of people out there who think a real crunch is on the way, namely falling house prices.

Article: Higher interest rates are set to provoke a crunch in Britain’s property market next year with the weakest growth in prices for 13 years, the Council of Mortgage Lenders (CML) said yesterday.

The CML also said that consumers would have to cut back on spending as they struggle to cope with a painful increase in mortgage repayments.

Michael Coogan, director-general of the CML, said that house prices would grow at half their current rate by the end of the year and would rise by only 2 to 3 per cent in 2008.

According to data released yesterday by the Department of Communities and Local Government (DCLG), house price inflation stood at 10.9 per cent in May.

The slowdown predicted by the CML would give the property market its worst year since 1995 and would probably mean a real-terms cut in the value of most people’s homes.

The CML said that it had trimmed its January forecast of a 7 per cent price rise this year and a 5 per cent rise in 2008 as interest rates had risen more than expected.

Mr Coogan said: “I don’t believe there will be a crash, but clearly a slowdown is more likely in an environment of higher interest rates.”...

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7/ Gazprom Plans China Gas Pipeline Parallel to Oil Link (Bloomberg, Tue 17 Jul)

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aj6JutHCE.iM

Comment: Only a week or two ago we were told the pipelines to export gas from Russia to China were to be postponed, perhaps as late as 2020, because China wanted the gas on the cheap. Now according to Bloomberg, they are on again.

Article: OAO Gazprom, Russia's natural-gas export monopoly, plans to build a gas pipeline parallel to the Eastern Siberian oil link, possibly lowering the cost of supplying fuel to China and the Asia Pacific region.

Gazprom aims to use fuel from fields in the republic of Yakutia to help fill the pipeline, Acting Chief Executive Officer Alexander Ananenkov said in an e-mailed statement today after signing an accord with Vyacheslav Shtyrov, the republic's president, in the regional capital of Yakutsk.

... Russia plans to export 68 billion cubic meters of gas a year to China though two pipelines, Russian Energy Minister Viktor Khristenko said July 10. The western pipeline will start pumping 30 billion cubic meters a year in 2011, and the eastern link will add 38 billion cubic meters a year by 2016, he said.

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8/ UK NBP gas prices climb further as low Norwegian flows continue (Platts, Fri 13 Jul)

http://www.platts.com/Natural%20Gas/News/8155966.xml?p=Natural%20Gas/News&sub=Natural%20Gas?src=energybulletin

Comment: You have to wonder what sort of agreement / contract the UK has with the Norwegians where they can export to the UK any amount of gas they like, including, it seems, none.

Article: UK gas prices at the National Balancing Point climbed further Friday as flows from Norway stayed at low levels and the market remained nervous over price volatility, traders said.

... Part of the tightness was due to the continued unplanned outage at BP's CATS pipeline, which has been offline for almost two weeks now. A BP spokesman said Thursday was still no news on the situation, and that the company's earlier assessment that the outage would likely take weeks still stood.

Traders Friday said it was unclear whether the outage would indeed only take weeks or in fact several months, with the former now seen as a bearish outcome in comparison.

... Flows from Norway were negligible, as they had been since Wednesday. The Langeled pipeline was flowing at about 5 million cu m/d, having dropped to zero overnight and jumping a notch during the morning. The pipeline had flowed at about twice that level earlier in the week, and as much as 10 times the level in the previous week.

Norwegian producers said Thursday that low flows were not due to an field or infrastructure outages, planned or unplanned, and instead blamed relatively low UK demand.

But traders expressed incredulity at these statements, with one saying Friday: "People are edgy now because they don't know how Norway will flow. I don't believe that it's because of low UK demand, that doesn't make any sense." He added that the Norwegian flow rates over the past few months had made the market "untradeable."...

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9a/ PRIUS OUTDOES HUMMER IN ENVIRONMENTAL DAMAGE (Impact Lab [The Recorder], Wed 14 Mar)

http://www.impactlab.com/modules.php?name=News&file=article&sid=11001

Comment: The original article does not seem to be available on The Recorder website. It looks like it was removed due to the controversy it caused, or perhaps the threat of legal action? The author, Chris Demorro, compares the energy consumption of a Toyota Prius with a Hummer. In item 7b, he explains “I am just a college student, trying to make a name for myself”, and reviews the original article.

Article: The Toyota Prius has become the flagship car for those in our society so environmentally conscious that they are willing to spend a premium to show the world how much they care. Unfortunately for them, their ultimate ‘green car’ is the source of some of the worst pollution in North America; it takes more combined energy per Prius to produce than a Hummer.

Before we delve into the seedy underworld of hybrids, you must first understand how a hybrid works. For this, we will use the most popular hybrid on the market, the Toyota Prius.

The Prius is powered by not one, but two engines: a standard 76 horsepower, 1.5-liter gas engine found in most cars today and a battery- powered engine that deals out 67 horsepower and a whooping 295ft/lbs of torque, below 2000 revolutions per minute. Essentially, the Toyota Synergy Drive system, as it is so called, propels the car from a dead stop to up to 30mph. This is where the largest percent of gas is consumed. As any physics major can tell you, it takes more energy to get an object moving than to keep it moving. The battery is recharged through the braking system, as well as when the gasoline engine takes over anywhere north of 30mph. It seems like a great energy efficient and environmentally sound car, right?

... However, if that was the only issue with the Prius, I wouldn’t be writing this article. It gets much worse.

... Through a study by CNW Marketing called “Dust to Dust,” the total combined energy is taken from all the electrical, fuel, transportation, materials (metal, plastic, etc) and hundreds of other factors over the expected lifetime of a vehicle. The Prius costs an average of $3.25 per mile driven over a lifetime of 100,000 miles - the expected lifespan of the Hybrid.

The Hummer, on the other hand, costs a more fiscal $1.95 per mile to put on the road over an expected lifetime of 300,000 miles. That means the Hummer will last three times longer than a Prius and use less combined energy doing it.

So, if you are an environmentalist - ditch the Prius. Instead, buy one of the most economical cars available - a Toyota Scion xB. The Scion only costs a paltry $0.48 per mile to put on the road. If you are still obsessed over gas mileage - buy a Chevy Aveo and fix that lead foot...

9b/ Prius Still Not Sitting Pretty (The Recorder, Wed 28 Mar)

http://clubs.ccsu.edu/recorder/editorial/editorial_item.asp?NewsID=203

Article: There has been quite a bit of debate regarding an opinion piece of mine entitled, “Prius Outdoes Hummer in Environmental Damage.” To be honest, I couldn’t be happier with the result. I managed to get people talking about a serious issue, which I believe does not get nearly enough attention.

I am of course talking about the future of automotive energy consumption. Over the past two weeks, I have seen my name splashed across hundreds of forums, read on live radio and even discussed within earshot of myself.

Along those lines, in the interest of fair and balanced journalism, it should be noted that the CNW Marketing research “Dust to Dust,” which I cited in my article, is dubious at best. Much of the debate has centered on the lifetime mileage of the Prius versus the Hummer. The average expected lifespan for a Prius, according to the report, was 100,000 miles when, in reality, the Prius is offered in several states with a warranty up to 150,000 miles alone.

There was also a great deal of debate regarding just which Hummer was used in the CNW report. It was the original Hummer, not the H2 or H3, which may clear up the 300,000 mile lifespan expected from a Hummer. However, there are enough holes as large as this throughout the CNW report to question its objectivity.

That being said, there is still fairly substantial evidence that hybrids are not nearly as efficient; nor are they as environmentally sound as one may think. There are many cleaner, faster and sleeker alternatives out there waiting to be picked up. Cars such as the Tesla Roadster, for sale now at teslamotors. com, which is an entirely electric car that can journey up to 250 miles on a single battery charge, as well as sprinting from 0-60mph in a blistering four seconds. And to top it all off, it is available for about $30,000 if you opt to wait, rather then pay an additional $20,000 to receive the next one available. The Tesla is just one of the many options available right now and will hopefully garner more attention in the future.

Unfortunately many of these options go largely unnoticed simply because they don’t come from a major auto manufacturer. This is a large part of why I wrote the article in the first place: I believe hybrids are not going to solve our imminent energy crisis, and focusing on a platform that still requires petrol in any amount is ultimately a band-aid for what could become a mortal wound. But this is what many manufacturers are offering to us; half-assed solutions to a real problem that will affect everyone the world over. But if people are kept in the dark regarding alternatives to oil and hybrids, then by the time real alternatives are available, we may have dug ourselves an oil-lined grave...

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