...China has surpassed the U.S. as the world’s largest energy user, transitioning from an exporter of oil to an importer. China's energy demands are expected to soar 75% by 2025, accounting for a third of global consumption growth.
India faces booming demand, as the 70 million households not yet connected to the grid begin to enjoy the conveniences enabled by electricity and as the 90% of households without cars rapidly trade up from their bicycles and scooters.
The U.S. Energy Information Administration expects global oil demand to increase by a mind-boggling 900,000 barrels per day in 2012.
The International Energy Agency estimates a minimum of $20 trillion—that's right, trillion—must be invested over the next 25 years to meet burgeoning energy demand and to offset declining reserves of the world's oil fields.
And if the people of China, India and the rest of the world want a standard of living that's on a par with that of the United States, energy demand will quadruple!
Is it any wonder that the price of gasoline in the U.S. is now nearing $4 gallon?
The fact is, energy isn't just about automobiles and utilities. Any economy needs a certain level of energy just to keep its infrastructure—roads, bridges, schools, agriculture, medical system, etc.—repaired and working. As energy demand outstrips supply, the very foundations of our prosperity will be threatened...