Interest in alternative energy has cooled down as oil prices have dropped more than half from a summertime high of $143. I wouldn’t get too comfortable though, with OPEC controlling oil production, you never know when the next spike will be. They recently announced that they were cutting production to stabilize prices. It doesn’t look like this first production cut has made much of an impact on prices since the demand for oil is lower globally, but the last two years has showed us that it can bounce right back up at anytime. Ideally, OPEC would like oil prices to be between $80 - $100 per barrel, and that doesn’t include the spikes that will happen during shortages or other global events.

“The one thing that is certain about energy prices is that they are volatile,” said Ralph Cavanagh, head of the energy program at the Natural Resources Defense Council. “They bounce crazily around. And Californians know this better than anyone - you don’t want to be a victim of the next bad bounce.”

So, now more than ever, we have to remember the pain that we’ve had to go through the last couple of years of high oil prices and try to prevent that same pain in the future.

If we don’t do more now with alternative energy research and development, we WILL just repeat history and go through the whole energy crisis again.

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This entry was posted on Monday, October 27th, 2008 at 10:25 pm and is filed under Alternative Energy. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.