The problem with water, though, is that the shortfalls don't show up until the very end. You can go on pumping unsustainably until the day you run out. Then all you have is the recharge flow, which comes from precipitation. This is not decades away, this is years away. We're already seeing huge shortages in China, where the Yellow River runs dry for part of each year. The Yellow River is the cradle of Chinese civilization. It first failed to reach the sea in 1972, and since 1985 it's run dry for part of each year. For 1997 it was dry for 226 days.

The problem with water, though, is that the shortfalls don't show up until the very end. You can go on pumping unsustainably until the day you run out. Then all you have is the recharge flow, which comes from precipitation. This is not decades away, this is years away. We're already seeing huge shortages in China, where the Yellow River runs dry for part of each year. The Yellow River is the cradle of Chinese civilization. It first failed to reach the sea in 1972, and since 1985 it's run dry for part of each year. For 1997 it was dry for 226 days.

The foundation is being laid for the emergence of both wind and solar cells as cornerstones of the new energy economy. World wind generating capacity grew from 7,600 megawatts in 1997 to 9,600 in 1998, an expansion of 26 percent. At a national level, Germany led the way, adding 790 megawatts of capacity, followed by Spain with 380 megawatts, and the United States with 226 megawatts. In the past, U.S. wind generating capacity was concentrated in California, but in 1998, wind farms began generating electricity in Minnesota, Oregon, and Wyoming, broadening the new industry's geographical base.

Rising oil prices have focused the world's attention on the depletion of oil reserves. But the depletion of underground water resources from overpumping is a far more serious issue. Excessive pumping for irrigation to satisfy food needs today almost guarantees a decline in food production tomorrow.

Farmers...can no longer keep up with rising demand; thus the outlook is for chronic scarcities and rising prices.

The transition from coal, oil, and gas to wind, solar, and geothermal energy is well under way. In the old economy, energy was produced by burning something - oil, coal, or natural gas - leading to the carbon emissions that have come to define our economy. The new energy economy harnesses the energy in wind, the energy coming from the sun, and heat from within the earth itself.

Yet, most of the readily accessible reserves of oil formed over hundreds of millions of years will be consumed within a single generation, spanning the years from 1960 to 1995.