The world is dependent on oil

Endre Aczél reflects on our oil-dependent world and the continued rise in oil prices. "For some time now we have watched how supply cannot keep up with demand. The main reason for the rise in demand is also to be found in those countries that are poor in natural resources but are developing at a rapid pace - above all China and India. ... The supply shortages, on the other hand, are by no means the result of limited petrol reserves, but rather the fact that the giants on the energy market like Russia and Iran lack the capital to exploit new oilfields. In 2008 neither of these two countries have been able to pump more oil to the surface than they did last year. ... Why is it so important for Washington that Europe buy gas from Iran supplied through the Nabucco pipeline rather than Russian [gas] supplied by the South Stream pipeline? Could it be that from a strategic point of view Russia, not Iran, is the true 'threat'? Hmmph."

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