Sunday November 27, 2005

Energy costs become global concern

peakoil.com -> timesunion.com :

Long underwear in South Korea, extra sweaters in U.S. classrooms, rising sales of wood-burning stoves in Denmark. Winter is here, and because of a spike in heating costs, people from Tokyo to Toledo are looking for alternatives to oil.

Heating oil and other energy prices are up to 40 percent higher than three years ago. That translates into bad news for Northern Hemisphere consumers whose budget already is stretched by a summer of high prices at the gasoline pumps - and into opportunities for those who cash in on the cold.

In South Korea, where a vigorous save-energy campaign is under way, the clothing industry expects a 10 percent rise in profits from sales of warm apparel. But not only manufacturers see an opportunity. "We have seen a lot of thefts of heating oil ... stolen from private properties and construction sites," says Peter Josephsen, a police officer in Ringkoebing, 140 miles west of Copenhagen.

See also :

1. Rising energy costs driving lifestyle changes
2. Rising cost of commuting changing how Americans work
3. Higher Oil Prices Met With Anger Worldwide

(2005-11-27 14:25:10 SGT) [Energy] Permalink

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