Wednesday, March 16, 2005
Peak Oil
Salon has a great article on whether oil production is about to max out and, if so, who will get hit first. Rather than quote from the article, let's hit the key points.
* Oil production is likely to hit its peak very soon.
* Demand from India and China is rising [watch out for Indonesia, too]
* Instability [not to mention Bush's bullying of Venezuela and Iran] threatens to contract existing oil supplies
* Large reserves are locked up in oil shale and tar sands, but are expensive to extract
I tend to think it will play out differently than author Robert Bryce does. But it wouldn't hurt to lube the bicycle chain.
Before the price goes up.
More blogs about politics.
