The Stone Age, the Oil Age and the What Age?

There is a quote I really like said by Sheikh Yamani, former OPEC oil minister, when asked about the oil industry's future:

"The Stone Age didn't end because we ran out of stones."

During the present riots in Egypt due to political aspects against president Hosni Mubarak there has been uncertainty in the world about oil supply and its price. Not only because Egypt is an oil producer or because Egypt controls the Suez Canal, being one of the most important oil routes, but also because markets fear violent riots could spread among other Middle Eastern oil producing countries, as it happened between Tunisia and Egypt.

Many countries, and companies, have stated a strategy towards developing alternative energies due to the imminent future lack of oil, its prices’s vulnerability and for following the green-business trend. Mexico, Venezuela and Brazil are among the top 15 world oil producers, whose national income depends greatly on this industry. So the questions arises: are we foreseeing the future or are we more concerned in exploiting our resources?

Following Sheikh Uamani's words: are we still looking at the stone until it runs out?

As an Innovation Consulting Firm, ChromaticWorks is looking forward to help companies develop effective and commercially successful products that enhance alternative energies.

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