Not in complete agreement with this article as to start a transition away from oil would be a good outcome and high oil prices should help, the trouble is there is nothing really to transition to yet. Or at all. Plus, as much as I loved the electric KTM SX prototype I tested, internal combustion engines are still much more versatile and will be around for a (long) while yet, just being increasingly more expensive to run (assuming of course enough oil makes it out of MENA to run them). At least motorcycles get great MPG. The KTM 690 engine just won the distinction of being the most fuel efficient bike in South Africa , averaging 3.0 Liters/100km (78.4 mpg) in Econorun 2010.
As Colin Cambell said, We’re entering the second half of the age of oil. How steep the slide down the back is remains to be seen, but if you want to somewhat understand where we are at, this article is a good place to start:
The political class and their mouthpieces in the corporate controlled mainstream media are desperately trying to spin the oil price surge as a temporary inconvenience that will not derail their phony recovery story. Brent crude closed at $116 per barrel yesterday. West Texas crude closed at $104 per barrel. Unleaded gas has risen by 22% in the last month and 60% since September 1, 2010. I’m sure this slight increase hasn’t impacted Ben Bernanke or Lloyd Blankfein. Their limo drivers just charge it to their unlimited expense accounts. Joe Sixpack, driving his 15 mpg Dodge RAM pickup, is now forking over an extra $1,200 per year in gas expenditures, not to mention more for everything impacted by oil such as food, utilities, and anything transported to their local Wal-Mart by truck (everything). Luckily, the Federal Reserve and crooked politicians only care about their comrades in the top 1% elitist society, for whom oil is an investment, not an expense.