Of those reading this website in the early days, many expected that by 2008 the world would begin to look like a different place. Perhaps they made some personal changes and hoped that information and facts about energy/environment would gain a societal tipping point and engender some tectonic shifts on global energy policy. Standing here (or sitting) today, it is apparent that in the past 3 months we have gone from the mild fire of high oil prices (hot, but pretty to watch), into the frying pan of a systemic international financial crisis. But under the surface, recent events are accelerating our energy crisis in stealth mode: supply side investments are being crimped due to low commodity prices, and investment capital is available at a premium if at all. On the demand side: people in the US are financially strapped, but gasoline at under $2 a gallon, (arguably the scarcest input into societies' future - see GasBuddy Map here), is paradoxically the most affordable item on the weekly shopping list!

Humans, governments, and Americans have a long history of putting out short term fires while simultaneously increasing the risks for long term systemic conflagrations. In the coming week we are going to continue our review of the IEA WEO report with posts on Decline Rates, Megaprojects, Saudi Arabia, Belief Systems/Economics, Reserves, Natural Gas, and more. There is no data or analysis below the fold today, just a list of questions for our readers about where we stand, what can be done, what should be done, and who should be doing it.