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.

The choice is ours-yours and mine. We can stay with business as usual and preside over a global bubble economy that keeps expanding until it bursts, leading to economic decline. Or we can adopt Plan B and be the generation that stabilizes population, eradicates poverty, and stabilizes climate. Historians will record the choice, but it is ours to make.

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.

Each summer, for example, nitrogen and phosphate washing from farmlands in the Mississippi Valley enter the Gulf of Mexico, creating a massive algal bloom covering some 16,000 square kilometers. As the blooms die off, this area-roughly the size of New Jersey-is so deprived of oxygen that no fish survive.

Nuclear power, once regarded as petroleum's natural heir, has become less and less attractive as its numerous drawbacks come to light. Coal, the other fossil fuel, is ultimately as exhaustible as oil.

Nations are in effect ceding portions of their sovereignty to the international community and beginning to create a new system of international environmental governance.

It takes 1,000 tons of water to produce 1 ton of grain. As water becomes scarce and countries are forced to divert irrigation water to cities and industry, they will import more grain. As they do so, water scarcity will be transmitted across national borders via the grain trade. Aquifer depletion is a largely invisible threat, but that does not make it any less real.