Saturday, 7 June 2008

Oil closer to $140 than ever before in history

The idea to turn the three year old report "Saving the climate @ the speed of light", that I did with Katalin Zomolanyi, into a report called "Saving oil @ the speed of light" and focus on the potential for ICT solutions to reduce oil consumption (as well as CO2 reductions) feels more and more urgent every time oil reached a new price record.

This week oil ended at close to $140, and even if it drops again it feels like infrastructure investments in countries like China and India should take a high oil price into account.