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 ?¢‚Ç¨?ìtrue?¢‚Ç¨¬ù shock probably comes with $50 oil. A sustained increase to that level for 3?¢‚Ç¨‚Äú6 months would represent a surge of more than 70% above the post-2000 average ?¢‚Ç¨‚Äù on a par with fullblown oil shocks of the past. The recession call probably wouldn?¢‚Ç¨‚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.