Last summer, I was reading the book The Coming Economic Collapse: How You Can Thrive When Oil Costs $200 a Barrel by Stephen Leeb, Ph.D. and it really got me thinking of the way we live and use petroleum to function as a society. I enjoyed this reading because of the possible implication for creating wealth in a new renewable energy economy. A lot of old carbon economy wealth could be destroyed by high oil prices and money would be changing hands to the leaders in this new economy. The most exciting thing is that I want to take part in this revolution by forming my own enterprise eventually after I am done with school. It’s not too late to enter the renewable energies market – the boom hasn’t even really started.The following website has an interactive map that provides some perhaps reasonable estimates of the world supplies of oil.
Most authors such as Stephen Leeb and David Strahan paint an apocalyptic idea of our future without oil within the medium term future. However, I tend to think that we will get hit first by serial rises in gas prices (or small oil shocks) possibly in a year or two again. The last time the prices of gas significantly rose in 2005, it seemed like the public wanted to regain control over their energy consumption: hence, the subsequent popularity of the SMART car and hybrids. That is why I believe we will have a step-wise transition from carbon economies to a carbon-free one. Only feeling the pain of high prices can really get people going – and innovations aren’t missing.
A physicist from Cyrium I met in Ottawa last May was telling us how much energy is available in world (other than carbon). The problem is more a question of harvesting the energy than finding new energy. He was developing new solar silicon chip more efficient than what is currently on the market. I think I would like to use my expertise in marketing later to bring an innovation from lab to market. In Canada, we still derive very little part of our energy needs from renewable sources.
The one innovation that really got me excited when I visited a trade show last year in Ottawa is the geothermic pump. For Canadians, a very important portion of our expenses goes into heating our homes during winters. According to the rep at the kiosk, geothermic energy could reduce heating costs by up to 75%. By coupling renewable energies such as wind and solar power with geothermic energy, Canadians could still live through winters even in a carbon free economy after passing the Hubert peak.
The book The Coming Economic Collapse made me realize how fast oil could be depleted. We can still profit from this revolution if we position ourselves correctly by marketing one of the new technologies before this boom. Do you have any idea how to profit?
no oil new money?