What would happen to the global economy if a new, cheap energy source emerged overnight to replace oil?
I believe new, inexpensive energy source(s) is/are already available but perhaps not totally perfected. An oil crisis could be a good thing if it speeds up the process and nudges it into general use faster. I doubt that it will create too much of a problem because the world will still need time for the new source(s) to filter out to the end users in the form of new machinery, applications and technology. Thus it will effect the oil producing countries more than others but not in a way that would not give them time to adapt. Imagine the huge boom re-tooling for a new energy source would create? It will be an amazing time in history and I hope we see it soon. Thank you Exxon and good night!
