[edit on 9-4-2005 by Cutwolf]
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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."
...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.