The wild-eyed crazies at Fortune are joining that socialist rag Business Week in rethinking energy policy.
Risk, in other words, has become a part of the fundamental equation when it comes to the price of oilÖnot a temporary “premium,” as some characterize it. Indeed, even without a major disaster, some analysts now believe we’re likely to see $50-a-barrel oil before we see $30 a barrel again. To make matters worse, we’re more vulnerable now than we were in 1973.
Their four-point program:
1. Improve fuel economy
2. Ramp up spending on alternative fuels
3. Redouble our commitment to efficiency
4. Get serious about solar and wind
Not so radical a program to some, until you consider where it’s from. There’s a tectonic shift underway in the global economy — with huge impacts on both enterprise-level and national-level economic futures, and risk/reward profiles — only some people/companies/governments can’t see it yet. They proceed at their own peril. You invest in them at yours.
