European economies powered by fuel too?

Europe, the continent of natural beauty and rapid economic developments….This is the imagery one makes when thinking and discussing about Europe. The mention of this continent’s name does not ring the idea of rapidly increasing oil and food prices, as well as economy related demonstration on the streets…

However, lets face it. The USA, where the economy is powered by fuel, isn’t the only victim of the global shortage and increase in the price of crude oil. The European countries have also experienced similar scenario, if not on the same scale as North America.

The fact is that crude is traded in United States dollars is itself an indication of the impact of rising fuel prices on the global scale. Any changes in the US dollars affects fuel prices world over and this further stamps the idea that we are truly living in a global village…the name “globalization” is no longer a sci-fi.

Increase in fuel prices also impacts the prices of food. Everywhere in Europe, we see the trend of increase or decrease in the price of consumer foods whenever the price of fuel fluctuates.

The trend in Europe is now of car-sharing (people sharing cars), people cycling or walking to reach their destinations or using the public transport instead of their own motor vehicles. For people who live in the vicinity of their work place, this has become a normal trend.

There have been scattered but strong demonstration all over Europe in the wake of fuel price increase. Europeans are not keeping quiet; they are making their voices heard.

But isn’t it time to concentrate our energies in the quest for alternative fuel sources? Our dependency on crude has crippled our ability to become innovative in the energy industry. Lets ditch the crude and take alternative energy sources on board…