Independence Day 2006 – America's last fling?

[4dsc]

I wonder who many people in Falls Church are getting the message about peak oil while more other regions of the country ingore it??

http://www.fcnp.com/619/peakoil.htm

In thinking about the state of peak oil and all it implies, it is difficult to foresee any good news that would delay the arrival of much higher prices and shortages.

World oil production has been basically stagnant for the last year. If this production reaches a new high in the next year it is likely to be a minimal increase of a few hundred thousand barrels a day or less. It is becoming increasing difficult to envision just where production increases on the order of millions of barrels per day that we saw a few years ago are going to come from. Every few weeks another report of actual oil depletion or new statistics looking suspiciously like depletion, surfaces.

In the meantime, consumption in China , some parts of Asia , the rich Middle East Oil producers, and the US shows little sign of slowing. By the next 4th of July, another 31 billion barrels will have gone into somebody's fuel tank, somewhere. There is simply not enough slack in the system or oil currently being consumed by poor nations that will soon be priced out of the market to make up for the supply demand imbalance. Some are beginning to talk about a dollar a year addition to the price of a gallon of gasoline as what we might expect for a while.

If this rate of increase proves to be the case, we can look for circa $4 gasoline next July and $5 in July 2008, just prior to the Presidential election. The new President can then deal with the $6 or $7 gasoline that many believe will do some real damage to the economy.

[NEOBuckeye]

1. Right on Schedule

It's all happening the way I thought it would. Peak Oil sneaks up on us, like the slowly rising temperature for the frog in the pot of water, and most Americans don't even realize yet that there is an imminent crisis. People still think that gas will someday return to the $0.99 per gallon bargain that it was during the Clinton Years.

The Energy Crisis, The Long Emergency, The Age of Scarcity. Whatever you want to call it, it's here and going to get rather ugly.