More Reasons Why We Need To Develop Fusion Power

Some quotes from High-Priced Oil Adds Volatility to Power Scramble by Mark Landler in today's NY Times:

"Even in developed countries like Canada, rising oil prices can cause dislocation. The region around the oil sands in northern Alberta is the closest thing the developed world has to a 19th-century boom town. The influx of workers has created a shortage of skilled labor in neighboring British Columbia, where construction is under way for the 2010 Winter Olympics.... But perhaps no country has reveled in its oil wealth like Russia. NetJets Europe, the private-jet company, plans to open an office in Russia because the traffic between Moscow and London has become so dense. This month, Christies will stage what it expects to be a record-setting auction week dedicated to Russian art, including the auction of a Faberg egg made for the Russian royal family. Russians have kept Londons high-end real estate market buzzing. There are a lot of Russian buyers around who are prepared to pay a vast amount of money, said Michael Chetwode of the Home Search Bureau. Back home, Russias oil wealth is trickling down. Mr. Putin is using it to finance priority national projects, like improved health care and education, and access to affordable housing. Oil may also help Mr. Putin cling to power after he leaves the presidency, perhaps as prime minister. As he noted recently, We all remember what state the country was in seven, eight years ago. Eight years ago, oil was trading at $16 a barrel."

From Warning on Impact of China and India Oil Demand by Jad Mouawad and Julia Werdigier, also in today's Times:

"the International Energy Agency warned that demand for oil imports by China and India will almost quadruple by 2030 and could create a supply “crunch” as soon as 2015 if oil producers do not step up production, energy efficiency fails to improve and demand from the two countries is not dampened.... High economic growth in China and India could push oil prices to $159 a barrel by 2030, the agency said."

That's an odd forecast. $300 a barrel by 2030 would be more like it.

"As the need for oil imports grows, and supplies level off in many industrial nations, the world will become increasingly reliant on a smaller number of oil-exporting countries, mainly Russia and in the Middle East. As a consequence, the agency said, global energy security will increasingly be at risk."

One can only hope that the United States develops viable nuclear fusion power some time before oil reaches $200 per barrel.