As crude oil prices top the magic $100-mark, on occasion, a short review: In 1973 the OPEC chose to cut down oil production for political reasons, causing a global recession. In Germany, private car traffic was prohibited on Sundays. Images of deserted Autobahns were on the news. Then, a barrel of crude (159 litres) soared from $3 to $5. Now, we're facing a twenty-fold record  - the oil price has since gone through the roof by incredible 2000 percent.

With countries like India and China reinforcing the trend, some analysts see the barrel skyrocket up to $150 with reserves in demand. The fact, that production volumes are barely increasable contributes to this assessment. There just won't be more oil: Most of the easily accessible reserves have seen their maximum output. Development and exploitation of future deposits - like polar or submarine sources - require some vastly extended efforts. All true. And yet, the real cause for the over-priced oil has little to do with availability and needs:

The world needs roughly 86 million barrels of oil every day. Surprisingly, as much as 15 times that amount is traded every day. Yet to see any refinery, every barrel of crude changes hands 15 times on average at computer-based markets of banks and investment companies. That explains why quotations would double within the past year, while actual demand increased only by a meager 2 percent. That also explains how Exxon Mobil managed to announce a $40 billion all-time record profit: No company in economic history has ever made more money. And that's why oil is somewhat pricy these days.

However, we have not nearly seen all the expenses that go along with the combustion of oil. Our economies will be presented with a much higher bill that will dwarf even the profits of multi-national companies and brokers. Unfortunately, consumers are to pay for both, eventually. - Since there is hardly an escape from this dilemma, Loremo provides a solution - at least for car drivers. The Loremo E-Motion will be among the first fully equipped, electrically powered cars available. And it will not burn a single drop of oil.