Price of Oil Close to $100 per barrel at 2012

In different places around the globe, people greeted the New Year with grand displays of fireworks high in the sky. 24 hours into 2012, oil prices are skyrocketing as well, an unpleasant reminder of our present energy predicament that even a global celebration couldn’t stop.

The oil price at the end of 2011 was nearing $100 a barrel, and finished the year almost 20% higher. Crude prices in 2010 averaged $75 per barrel. In 2012 experts predict it will probably be $98 per barrel. Civil unrest, government collapses, and other internal problems in key nations drove the price of oil further in the global market. Debates about whether the oil peak has occurred or will occur in the near future are not as important as recognizing that the world’s available oil supplies are running out – and fast.

Several huge companies are buying back shares as every drop of oil becomes more precious and more expensive. If anything, this underlines the need to research, discover, and develop sustainable energy sources for the world’s increasing energy demands. Little by little, illusions that the energy crisis won’t happen crumbles as everyone feels the pinch of reality on their pockets and security. If you type “more expensive things in 2012” into Google you will be unpleasantly greeted by pages of lists. It doesn’t matter what number is at the beginning of the title. It could be ten, seven, or twenty but the bottom line is that our way of living in the past century is changing. Airfare, electronics, data, taxes, energy, food, and even water are expected to take a hike up the price range this year. Can the millions who live precariously on budget cuts and triple jobs survive? Has the 7 billion human inhabitants of earth welcomed the new year only to collide with the deadline of convenient, guilt-free, and easy living?

Yet despite these growing problems, there are milestones of hope for us. 2012 due alternative energy projects like Deep Green and Sky Sails promise better ways to fuel the world’s energy demands the green way. Laws and regulations are being put into effect to avert tragic environmental disasters like those that happened in 2011. International brainstorming environmental conferences continue to generate solutions to present problems as well as awareness among the public. Everyone has the right to know the global problems that affect their lives. Similarly, everyone has the capacity and responsibility to contribute to the solution to these problems. From simple choices (using carbon neutral gadgets) to major life and behavior change (buying less and recycling more), an individual can impact the present energy crisis and environmental situation in their own way.

Start the year with a fresh perspective and outlook on being a global, green citizen. We have no other alternative time period for energy and environment conservation efforts. The past is gone and cannot be undone. The future may be too late for us and our next generation. The time for action is now, the only true time on our hands. 2012 is the best year for change!

Photo Credit: Some rights reserved by  ezioman via Flickr.

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Estel (303 Posts)

Estel Grace Masangkay is a freelance creative writer who enjoys outdoor trips and activities in natural settings. She is passionate about animal welfare and environment conservation. Follow Me @Em23me.

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