…and the Rise of the New Energy World Order
By Michael T. Klare
Oil at $110 a barrel. Gasoline at $3.35 (or more) per gallon. Diesel fuel at $4 per gallon. Independent truckers forced off the road. Home heating oil rising to unconscionable price levels. Jet fuel so expensive that three low-cost airlines stopped flying in the past few weeks. This is just a taste of the latest energy news, signaling a profound change in how all of us, in this country and around the world, are going to live — trends that, so far as anyone can predict, will only become more pronounced as energy supplies dwindle and the global struggle over their allocation intensifies.
Energy of all sorts was once hugely abundant, making possible the worldwide economic expansion of the past six decades. This expansion benefited the United States above all — along with its “First World” allies in Europe and the Pacific. Recently, however, a select group of former “Third World” countries — China and India in particular — have sought to participate in this energy bonanza by industrializing their economies and selling a wide range of goods to international markets. This, in turn, has led to an unprecedented spurt in global energy consumption — a 47% rise in the past 20 years alone, according to the U.S. Department of Energy (DoE). [For the rest of this article, go here to TomDispatch.com.]