Bush Promotes More Hybrid Tax Incentives This Morning

This morning President Bush said that America needs to end its dependence on oil, but he also noted that such a move will neither be fast nor easy. Again, Bush plugged not only hybrid cars, but plug-in hybrid vehicles. Moreover, he also asked for more tax incentives for buying hybrids and stated that all hybrid buyers should receive the current tax credit.

According to many scientists, $3.00 gas is only the beginning of why we should move on hybrids and other fuel efficient technologies as fast as possible. For if Hubbert's Peak has been reached, or is just around the corner, then America and much of the world will not be able to react fast enough.

On Hubbert's Peak, $3.00 gas is cheap.

So, where or what is Hubbert's Peak? It is the tipping point when global oil production begins a permanent decline. Some scientists think this point was hit in late 2005, others think it will be reached within 20 or 30 years.

In the next 20 or 30 years, global oil demand is predicted to skyrocket. What happens if we reach Hubbert's Peak in 5 years or 10 years? What happens if we've already reached the Peak?