Friday, March 30, 2007

US General Accounting Office report on Peak Oil

"The U.S. government is in need of a strategy to minimize potentially dire economic consequences after worldwide oil production peaks and begins to decline, the investigative arm of Congress said Thursday."

I have a feeling that Peak Oil has just shifted into the mainstream. Now that the phenomenon of peaking is accepted at the highest levels, attention will turn to when - and to all the other random factors which will accelerate the crisis. This is an interview with Matt Simmons, which is worth watching. Interesting figure that he quotes with regard to Cantarell (Mexico), where the decline is accelerating. What are the odds on a Chavez type figure emerging there? And how many different ways can the US find to say 'we're @&%$ed'?

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