In a speech in 2006, Samuel Bodman, US Secretary under President Bush statet: “ It is not an understatement to say, as the President did recently, that high oil prices can literally wreck economies. They can restrict development in a way that stifles business growth and, more notably, inhibits improvements in the health and well-being of so many around the world. [1]
If we look two or three or four decades into the future, we know that hydrocarbons alone will not meet the needs of a growing world economy.