Comments on: How could crude oil be a drain on the economy when crude oil IS the economy? http://askalandman.com/how-could-crude-oil-be-a-drain-on-the-economy-when-crude-oil-is-the-economy.htm Questions and Answers Sun, 20 May 2012 00:01:09 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: simplicitus http://askalandman.com/how-could-crude-oil-be-a-drain-on-the-economy-when-crude-oil-is-the-economy.htm/comment-page-1#comment-1562 simplicitus Thu, 28 May 2009 00:29:47 +0000 http://askalandman.com/how-could-crude-oil-be-a-drain-on-the-economy-when-crude-oil-is-the-economy.htm#comment-1562 Exactly right. Our economy is entirely based on cheap energy in general and, for transportation in particular, on cheap oil - even in ways people don't really think about, like the choice to move from rail to trucks. Take a look at table 1.3, titled "Primary Energy Consumption by Source, 1949-2007" on: http://www.eia.doe.gov/emeu/aer/overview.html Note how much faster oil consumption has grown than coal consumption, and since 1970, faster than natural gas consumption. Now that oil is no longer cheap, our reliance on oil is hurting badly. http://www.wtrg.com/prices.htm We had a warning of what it would be like in the late 70s and early 80s, but, obviously, the lesson didn't stick. Exactly right. Our economy is entirely based on cheap energy in general and, for transportation in particular, on cheap oil – even in ways people don't really think about, like the choice to move from rail to trucks.

Take a look at table 1.3, titled "Primary Energy Consumption by Source, 1949-2007" on:
http://www.eia.doe.gov/emeu/aer/overview.html

Note how much faster oil consumption has grown than coal consumption, and since 1970, faster than natural gas consumption.

Now that oil is no longer cheap, our reliance on oil is hurting badly.
http://www.wtrg.com/prices.htm

We had a warning of what it would be like in the late 70s and early 80s, but, obviously, the lesson didn't stick.

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