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Technology is the middle name of civilization. We like technology, it has brought us prosperity. Due to cheap oil we had chosen a wrong technological direction in the past. Accelerating increasing oil prices, accelerating decreasing non carbon energy prices and difference in future perspective of both make it easy to use technology again to give us a new era of prosperity. Renewable energy has become cheaper than fossil energy. We need sometime to realize this (for the moment we yet think high fossil energy prices are temporally). But when will become clear that they never goes down, there will be an investment wave for renewable energy. Renewable energy has also its limits. Both initial and in exploration. Initial: Technology, capital, production capacity and space. In exploration: capacity. Energy for the prices we're used to is something of the past. We're in of this denial at the moment, but end 2008 everybody will know that. The problem is that our whole economic model is based on cheap energy; our complete install base is based on fossil energy. We need to generate renewable power at huge volumes, these are major capital investments. The team that has made this analysis have also designed the to this analysis attached Finance Model for energy investments. We need new wind power plants on sea. We need new solar power plants in the desert. We need new HVDC intercontinental infrastructures to get wind power and solar power on our national grid. We need to change our install base (for example: all our cars and trucks) from fossil to electrical (our install base is such a problem, that lead to so much lost of suddenly becoming historical economic capital, certainly in a time when energy and elements are in a price run to never seen levels). We need to install decentral renewable energy harvesters on each house (solar power roofs and small round model quiet windmill). We must invest mega, just to being able to be able to do the things we do now these days for granted based on cheap fossil energy). And last be certainly not least: we need to design a less energy consuming economy and society, but the market (energy prices) will lead us there automatically. PeakOil will redesign our economies (let's make it better) and thereby our personal lives.

Author: Gijs Graafland

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