Oil shock should be an incentive to decarbonise
“Surging oil prices could pull the rug out from under global economic recovery and should act as a rallying cry for more urgent de-carbonisation.”Oil facilities in Libya are closing down with possible threats to larger suppliers such as Saudi Arabia should be a stark warning to the west, to rapidly reduce its consumption of increasingly expensive oil. The UK’s dependency on oil and the situation in the Middle East should be of paramount concern to everyone.
Over the past weeks, we have witnessed an incredible wave of protests across the Middle East, which has sent shock waves across the political landscape, exposing the United Kingdom vulnerability to oil shocks or a greater energy crunch scenario. Deep at the heart of major conflicts erupting between countries or within them is a tug-of-war over access to natural resources, which power the global economy.
The quicker we can move to a post oil-society, the better for our society, the environment, the global economy and for democracy itself, says Stuart Lovatt from Heat my Home.
Environmental crisis, water shortages and inequality were as crucial as political repression in beginning the Egypt and Tunisian uprising. Changing governments in Middle Eastern countries mired in crisis will not make the original economic and ecological problems disappear.
As an example, the World Bank has predicted, over the coming decade, the availability of fresh water in the region will halve. Add to this the effects of global warming and rising global temperatures, and you have an environmental and economic crisis of catastrophic proportions.
Here in the UK, we are dependent on foreign oil. We currently import 8% of our oil, but by 2020, it’s predicted to be 50%. Thanks to our dangerous dependency on oil imports, the Middle East, is of paramount concern to all global governments as turmoil in Libya and elsewhere escalates.
Whether it is via a managed transition or by a painful, last minute shock as oil stocks are depleted and oil prices increase to unmanageable levels, the United Kingdom will and must decrease its dependence on oil. The quicker we can move to a post oil society, the better for the environment, the global economy.
"Feel the pride."Stuart Lovatt March 1, 2011
Founder of Heat My Home.