The Developed countries opposition to investment in finding
alternatives to Petroleum and Coal is quite difficult to understand.
US Gasoline consumption is about 9 million barrels per day.
Current price is $ 70 per barrel, so the annual cost is 9 * 365 * 70 =
$ 230 Billion.
We have already seen price of $ 140 per barrel last year.
If price goes up to $ 140 again in future the burden on US consumers
will be about $ 230 Billion per annum.
So how much should US invest to find alternatives to Gasoline?
At Copenhagen all developed countries put together have pledged $ 30
Billion by 2012 and
US had pledged another $ 100 billion after 2020 to reduce GHG
emissions from all sources put together all over the world.
US should find alternatives to Gasoline because its running out and
not because it causes GHG emissions.
best regards
Bhaskar
www.kadambari.net
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