Doesn an energy transition require heavy investment which is not easily forthcoming under crisis conditions?
On the one hand, that’s assuming the premise that Peak Oil will cause economic crisis. On the other, it’s precisely under crisis conditions when investment is easiest – look at WWII: the US Depression ended because the war provided a good excuse for massive governmental spending and investment. ——————— The most important element of a transition from oil is the electrification of transportation. Surprisingly, the first part of the EV revolution has been here for years, in the form of the Prius. The Prius cuts fuel consumption by 50% (50MPG vs the US fleet average of 22MPG), in the US hybrids are 3% of new sales, and there are more than 1,000,000 on the road. And now, the Leaf and the Volt are coming out, and it is really clear that we have all the technology we need, we just need to use it.
