hey believe oil consumption threatens world security: it threatens economic security, civil security and environmental security. First they deal with economic security, noting that the gap between supply and demand is growing, and this will force up the price of oil. They point out how it accounts for a large proportion of the budgets of developed countries, but again this is not unexpected. They criticize Middle-Eastern countries for not diversifying their economies from the wealth they have obtained from sales of their oil. However their concern is more for the countries which depend on the oil. This is a lop-sided argument, because surely it is up to the countries who are dependent on the oil to take measures to prepare for the day when it will be in short supply and be working now on developing alternative energy sources. Criticizing the Middle East for what they do with oil revenues is beside the point being discussed here.
Another factor is when the oil supplies will begin to diminish. It has been estimated global output is likely to peak soon, then decline. The authors suggest that an increase in demand coupled with a drop in production, as proposed by some geologists, just when countries such as China and India are developing and demanding huge quantities of oil could seriously hurt the world economy. However, this is not going to happen overnight and most countries are already investing in alternative energy sources. America is the country most dependent on foreign oil.
China is getting into the automotive industry late in the game, so can take advantage of the developments of alternative fuel cars, and is already producing hydrogen cars, and has facilities for
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