The Stone Age did not end for lack of stone, and the oil age will end long before the world runs out of oil.

– Former Saudi Oil Minister Sheikh Zaki Yemani

In the late 18th and early 19th centuries, the developed world has witnessed the Industrial Revolution with advances in transportation, manufacturing, and agricultural technology.

In the mid to late 20th century, the developed world has witnessed the Information Revolution with advances in computing and telecommunication technology.

In the 21st century, the developed world enters the beginning of the Energy Revolution, with advances in energy production and storage technology. This is necessary in order to free itself from the dependency on fossil fuels, especially oil, supplied by only a few major producers in politically unstable regions, as prices skyrocket. While coal, natural gas, hydroelectric and nuclear power produce much of the developed world’s electricity, oil is still the dominant fuel for transportation. Economical transportation of people and goods has been a key component of any modern society.

Even if we ignore the fact that the oil supply is finite, this reliance on oil has still become unsustainable for economic, political, and environmental reasons.

Will the 21st century mark the end of the oil age?