The futures price of oil has reached $133.17 per barrel. From barely $20 at the start of 2002 it has increased almost 7 times as chart below suggests.
The increase in oil price is playing a big role in the rising cost of food among other products and much anguish. However, it is providing the biggest incentive for renewables to start being viable. With predictions of $200 a barrel, there is no better time to test high cost renewables, create a market and increase economies of scale and cut the cost of production in order to be viable again when the price of oil eventually comes down (or will it?).