It was only seven months ago we were paying $4 per gallon at the pump. Policy makers, business leaders and the general public seemed anxious to find sustainable solutions to the growing global demand for fossil fuels. However, the recent unprecedented global recession and credit crisis resulted in falling oil prices. The price of a barrel went from $147 to about $54. As a result, according to an article in the Wall Street Journal today, energy companies are postponing energy research projects that could help alleviate an energy crisis over the next few years. Once the global economy recovers, the demand for energy will soar once again, and so will gas prices.
What do you think can be done right now to prevent or minimize the economic effect of the next energy crisis? What are some steps that communities, businesses and policy makers can take today that may help keep the cost of energy down once the global economy recovers?
