Wednesday, 23 February 2011

As oil hits high today of $109 a barrel, and Gaddafi threatens his own people, the case for renewables gets ever stronger

The Guardian announced an hour ago: "Oil price hits highest point since September 2008. Brent crude for April delivery has just exceeded $108.70, its price on Monday. It was trading at $109.29 at 2:15pm, having hit highs of $109.45."

Nomurua has also said this afternoon oil prices may surge to $220 a barrel if political unrest in North Africa halts exports from Libya and Algeria.

Last week the Energy and Climate Secretary Chris Huhne said the break-even for a low-carbon economy is $100 a barrel oil.

The Independent reports that events in Cairo and Tripoli have made David Cameron recalibrate British foreign policy. Cameron says:

"For decades, some have argued that stability required highly controlling regimes and that reform and openness would put that stability at risk."

"As recent events have confirmed, denying people their basic rights does not preserve stability, rather the reverse."

Hard to think of a better advert for renewables than the ugly sight of despots in oil-rich countries threatening to attack their own people. The link between our high demand for oil and the suppression of democracy is not hard to see.

No comments: