Scott, you said “Interestingly, one of the reasons we need to address the Middle Eastern issue at this point in time is because the rampant poverty in the region will only get worse when the Middle Eastern oil is less valuable in 20 years than it is now. The region is a complete economic basket case now. If we do nothing, it will get far worse.”
I wonder if it will get worse for the masses. From what I have seen, the average Middle Eastern lives in poverty. Only a few are rich from the region’s oil.
We’ll still need oil for things like plastics, only the demand will be lower. The Middle East will have to adjust to supply and demand. Since we won’t need their oil so badly, they’ll loose their grip on us. We’ll call the shots, not them.
Of course, that will not happen unless we find something to replace oil for our energy needs. Hydrogen powered cars have this potential.
Another thing to think about. Today's cars didn't just pop into existence. It took 100 years of development. With hydrogen cars, we won’t have to start from scratch. We can use most components off modern cars. Its just the engine, fuel source and fuel storage that will change.
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