Is The Internet Our Solution To The Oil Crisis?
May 23, 2008 by tim
10 or 20 years from now, we will remember this year as the year in which the world tipped towards digital innovations over and beyond their traditional oil-fed counterparts.
The papers today are filled with doom and gloom about the impending economic crisis, and the apparently endless oil price increases.
As I have reported before, this crisis is all the more extraordinary because for the first time, oil prices are driven by demand instead of scarecity. As China pulls its vast population out of poverty and into middle class, so more oil is being consumed there. And that means the price, for the rest of us, will increase.
One thing you can be sure of: Life as we know it is going to change.
Huge strides are being made in the delivery of battery-powered cars. more and more homes are turning to geo-thermal power, sucking their heating from the center of the earth instead of from burning fuel. The digital revolution, which has been so prominent with the rise of the internet and mobile phones, is also making up for our inability to afford oil any more.
So what does this mean if you work on the Internet?
It means opportunity, hope, promise, and an exciting future. Of course it does! - This is the time when every industry out there is seeking ways to avoid physical delivery of goods. Anything which can be delivered digitally, without adding to fuel costs, must be.
And unlike 8 years ago, when the bubble burst on those Internet pionneers because it was discovered that no one really knew how to monetize the Internet, the world knows better now, and the world has embraced the Internet. Well, to be precise, 1.3 billion of us are Internet users from a population of 6.3 billion. That’s 20%.
Moreover, 36% of those 1.3 billion say they use the Internet to make purchases.. that’s 468 Million buyers. And its growing all the time.
So have a think about your industry, if you’re not currently 100% online, and pay some thought to what you could convert to online delivery instead of off-. If you have an interesting case and would like some help developing a solution, let me know. Drop me a comment below, and I’ll get back to you. I read all my comments…
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Oil prices are getting crazy. The increase is just trickling down to the consumers. Look at the oilheat customers for example, they are getting beat out there. Getting to the point where they just won’t fill up their tanks in the winter. sad, isn’t it? We should push bioheat a bit more to these people. Not only will it help them go green, but it will help conserve 400 MILLION gallons. Just imagine the price drop after that. While working for NORA I have seen many people struggle, it’s a horrible situation I hope we can resolve soon. Here’s a site that contains more info on bioheat: http://oilheatamerica.com/index.mv?screen=bioheat
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Couldn’t agree with you more Tim.
Can you tell me the source of your graph statistics. Would be very handy to use in a few circumstances I can think of…
Cheers,
Ric
[Reply]
Hi Ric yes… and thanks for asking…
This is the source:
http://www.stanford.edu/group/siqss/Press_Release/press_detail.html
Its a little old now and there are claims that well more than 36% are using the Internet for buying than was the case when this research at the University of Stanford was carried out.
Do your own research and please report back. I’d be interested to know what results you find.
Tim
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