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Originally posted by Thomas Crowne
Sounds as if George Bush understands oil, if he is a bit slow on some other things. Maybe that is why he owns a house that is energy self-sufficient in that it uses solar and wind-produced power.
In late 1999, Dick Cheney stated:
"By some estimates, there will be an average of two-percent annual
growth in global oil demand over the years ahead, along with,
conservatively, a three-percent natural decline in production from
existing reserves. That means by 2010 we will need on the order of an
additional 50 million barrels a day."
To put Cheney’s statement in perspective, remember that the oil producing nations of the world are currently pumping at full capacity but are unable to produce much more than 80 million barrels per day. Cheney’s statement was a tacit admission of the severity and imminence of Peak Oil as the possibility of the world raising its production by such a huge amount is borderline ridiculous.
A report commissioned by Cheney and released in April 2001 was no less disturbing:
"The most significant difference between now and a decade ago is the
extraordinarily rapid erosion of spare capacities at critical segments of
energy chains. Today, shortfalls appear to be endemic. Among the
most extraordinary of these losses of spare capacity is in the oil arena."
Not surprisingly, George W. Bush has echoed Dick Cheney’s sentiments. In May 2001, Bush stated, "What people need to hear loud and clear is that we’re running out of energy in America."
If the actions - rather than the words - of the oil business's major
players provide the best gauge of how they see the future, then ponder
the following. Crude oil prices have doubled since 2001, but oil
companies have increased their budgets for exploring new oil fields by
only a small fraction. Likewise, U.S. refineries are working close to
capacity, yet no new refinery has been constructed since 1976. And oil
tankers are fully booked, but outdated ships are being decommissioned
faster than new ones are being built.
...U.S. refineries are working close to
capacity, yet no new refinery has been constructed since 1976...
The Arizona Clean Fuels project would be the first refinery ever built in Arizona and the first in the United States in nearly three decades.
Explosive growth has made the People's Republic of China the most power-hungry nation on earth. Get ready for the mass-produced, meltdown-proof future of nuclear energy.
Originally posted by Thomas Crowne
"In terms of world supply, I think if you look at all the statistics, demand is outpacing supply, and supplies are getting tight. And that's why you're seeing the price reflected."
[edit on 9-4-2005 by Thomas Crowne]
That's what you call a white lie. He is not directly lieing, as demand is outpaciing supply, a hundred years out, but he is of course lieing to the public to make us feel there is a reason for high gas prices besides Venezuela and OPEC.
Originally posted by vincere7
There is evidence posted under Oil and the lack of knowledge. It's a recent post today. Also evidence is easily available to anyone who is interested to look. You could start with the department of energy. However, if you don't know much about oil commodities you will have to take the time to find out.