Incoming Hyperinflation which requires serious attention

As a citizen of this world, I would seriously urge the world governments to pay serious attention to the incoming inflation that maybe caused by the skyrocketing prices of oil. It may feel like $86/barrel today but, in the long run, nothing can stop oil supply to reach $200/barrel. Governments should really encourage their brightest scientists in their country to help develop a new source of energy that is either renewable and sustainable for a long period of time.

Like the Tsunami that hit South East Asia in year 2005, the people were ill prepared with countermeasures that will enable them to avoid the tragedy which have killed many thousands of civilians. But this time, it will not only affect part of the world, it will be a global crisis that we all will have to face.

Not many people seemed to realize that oil supply is a not renewable energy resource and hence it is illogical to think that cheap access to oil will always be there to support the ever enhancing economic growth of our world economy. Although we may have not reach a level which requires the world to put an eye on oil supply control today, but we certainly reaching for that level in a few years from now.

There are a few thoughts that I have but there are some shortcomings that comes along with these alternatives.
a) Improvement and prepare for the massive increase of the use of public transportation
- With the price of gas increasing over the years, households may not be able to drive to work
in order to pay more for gasoline. Workers will have to depend on public transportation to travel to work and the government will have to foot the bill to maintain and to increase the number of routes for the number of travelers that will commute to work on a daily basis.
b) Rely on some renewable energy that is currently available but may not be not feasible in the long run
- Many people were arguing that biodiesel is the alternative energy supply that we can use to replace gasoline. However, I doubt that this is the best alternative that we can rely on in the long run. In order to produce biodiesel, we will have to reserve a number of bio-sources such as palm oil to produce the biodiesel. In order to meet the number of the reserves, we will have to reserve a number of lands that will serve as the plantations for these bio-sources and hence it will slow down the development for these areas. In addition, many of these bio-sources may need to serve more purposes besides the main ingredients that makes bio-diesel. For example, palm oil is normally refined as cooking oil in Asian countries and the
demand for palm oil is growing in a fast pace. If we were to rely on palm oil for the production of our bio diesel, it may be affordable in the short run but we will need to consider other alternative resources for the long run.