It looks like sky-high oil prices and solid evidence of growing future demand from Asia aren’t spurring new oil production. Instead, non-OPEC production has been flat with some countries slipping, and even the Saudis are turning cautious in their statements about future production. It’s almost as if a prudent country would be taking steps to try to reduce the extent to which so many of its citizens rely on so much driving to go about their daily business. After all, as people are very aware it can be incredibly inconvenient — or even impossible — to change these kind of habits over the short-run, which makes it vitally necessary to start laying the groundwork for alternative ways of getting around and relating to your surroundings as soon as possible.
Alternatively, we could hope that biofuels somehow ride to the rescue and try not to worry too much about the food riots.
Photo by Flickr user Marine Photo Bank used under a Creative Commons license