Economist 2016.11.30

1.Breaking the habit – The futureof oil

Malodorous: smelling unpleasant

Manure: animal dung

Entrenched: established

Menace: a threat / cause danger

Overhaul: repair / revamp

Bankroll: support financially

Oil replaced traditional resources and started to drive the economy at an exponential speed since early 1900s. Products derived from oil became necessities and ubiquitous.

It is also observed that demand patterns has gradually shifted from dirtier petroleum products to cleaner fuels and renewables.

Likewise to a century ago,climate deterioration propelled and expedited the demand shift away from petroleum.It is going to affect everyone as our lives are all intertwined with oil. Tank in oil prices is a double-edged sword to the world, but it triggered actions on switching energy sources to less oil dependent.

Now that politicians are brought with the concerns on the environmental impacts will likely further push demand away from black oils and the tendency of exploration at far-reach locations begin to cease. Demand peak as an immediate result is under much dispute. It will remain as a dilemma and the answer will lie in the equilibrium point balanced by the many forces mentioned.