OK, the worry about the Mayan calender is over, we have survived our trip to the fiscal cliff, and while it is tragic that 1000 people were injured in Russia from the falling asteroid, it did not bring an end to the world as we know it. Of course neither did Y2K, and all the other supposed end of the world events that seem to waste people’s attentions. Sometimes you just have to wonder if these things are designed to distract us from the series problems we do face.
One of the major problems that could be looming on the horizon is our oil supply. There is many that say we have nothing to fear but when it comes down to it, people have to start realizing that the supply of oil is not infinite. Of course some say that we have already have hit peak oil and production is only going down from here, there is talk that by 2030 Saudi Arabia may have to import oil to supply their needs. What we do know is that the demand from countries such as China and India are fulling demand and China is using its economic might to control as many resources as possible and the question is, how long will the United States have the economic might to keep up.
That is not to say that there is not oil out there, however our lust for cheap oil was dependent on getting the low hanging fruit to keep the cheap oil going (plus many wars and government interference going back to the turn of the 20th century). However, the low hanging fruit is basically gone so any new oil is going to cost substantially more to develop and of course many will turn a blind eye to the environment damage that will have to be done to develop that oil.