Oil and Silicon

Rob Paterson talks about a new energy strategy, and our dependence on oil. His post specifically addresses the idea of energy self-sufficiency on Prince Edward Island. Rob cites Stephen Roach, on our oil economy:

In my view, the ?¢‚Ǩ?ìtrue?¢‚Ǩ¬ù shock probably comes with $50 oil. A sustained increase to that level for 3?¢‚Ǩ‚Äú6 months would represent a surge of more than 70% above the post-2000 average ?¢‚Ǩ‚Äù on a par with fullblown oil shocks of the past. The recession call probably wouldn?¢‚Ǩ‚Ñ¢t be too far behind in that instance.

Will increasing energy costs drive a boom in virtual work, virtual learning and virtual communities? Will it be the next oil crisis that finally proves John Chambers (CEO Cisco) correct with his often quoted statement that e-learning will make e-mail look like a rounding error? The Chinese demand for oil will ensure that we will continue to live in interesting times.

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