The president of OPEC, Mr.Jose Maria Botelho de Vasconcelos said Monday (16-11-2009) in
According to WorldWatch the real situation is much different, what happens in 20 years time cannot be predicted, crude demand has in fact declined this year alone by more than 12%, if crude prices are not controlled and kept around the $75 and $78 per barrel, then we will see a further decline in demand and subsequently alternative energy sources will be developed to a new level. If OPEC and speculators inflate prices to around $80 per barrel then they should be prepared to face further decline in demand as most nations are struggling to recover from the worst recession since the Second World War.
High crude prices is the best boost for development of effective alternative energy sources, as has been the case with almost all car manufactures, last week BMW showed its " BMW X6 Hybrid to be world's most powerful gas-electric vehicle"
"High crude prices = further development of other energy sources"