Here's Michael Klare writing about a report submitted to the U.S. Department of Energy by the National Petroleum Council, which was "widely praised for providing a balanced approach to the energy dilemma", the dilemma being the difficulty of extracting "tough oil", the hard-to-reach oil reserves buried deep underground:
Again, the numbers involved are staggering. According to the NPC, an estimated $20 trillion in new investment (that's trillion, not billion) will be needed between now and 2030 to ensure sufficient energy for anticipated demand. This works out to "$3,000 per person alive today" in a world in which a good half of humanity earns substantially less than that each year.
It's just a thought, but how about we invest a trillion or so in renewable energy sources instead?
