The oil crisis in the early 1970s forced Sweden to embark on a quest for alternative energy sources. In 1970, oil accounted for 77 percent of Sweden’s energy, but by 2003 that figure fell to 32 percent.
According to the energy committee of the Royal Swedish Academy of Sciences, there is growing concern among nations that global oil supplies are peaking and will soon become scarce, causing the price of oil to skyrocket. Committee members predict that a global economic recession could ensue, and Sweden is taking action to make its economy less vulnerable.
See on theenergycollective.com