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Thursday, May 31, 2007

The Elephant in the Oval Office

"The peaking of world oil production presents the U.S. and the world with an unprecedented risk management problem. As peaking is approached, liquid fuel prices and price volatility will increase dramatically, and, without timely mitigation, the economic, social, and political costs will be unprecedented. Viable mitigation options exist on both the supply and demand sides, but to have substantial impact, they must be initiated more than a decade in advance of peaking."

This is a statement which headed the Executive Summary of a report on Peak Oil by leading scientists, commissioned by the US Department of Energy in 2005. The statement was buried by the White House as being too scary and not political history's leading vote-winner. The possible consequences of this burial could prove a very large vote loser but I suppose it will be a later administration that suffers. Not much later though, according to many of the best-informed researchers: some say we have just passed the peak and price turbulence is rumbling; others that it is imminent. Maybe we need to be focusing on this issue even more urgently than on climate change itself...

1 comment:

Rob Weston said...

Hey Brother,
Just checking this comments thang out.

R x