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Finally Some National Attention

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posted on May, 28 2005 @ 10:08 PM
In a report today, the USA TODAY sheds some light on the Peak Oil problem. It gives a fairly unbiased view on the timescale and potential setbacks of this economic nightmare.

Are We There Yet? Oil Joyride May Be Over

The Associated Press
Could the petroleum joyride — cheap, abundant oil that has sent the global economy whizzing along with the pedal to the metal and the AC blasting for decades — be coming to an end?

Some observers of the oil industry think so. They predict that this year, maybe next — almost certainly by the end of the decade — the world's oil production, having grown exuberantly for more than a century, will peak and begin to decline.

And then it really will be all downhill. The price of oil will increase drastically. Major oil-consuming countries will experience crippling inflation, unemployment and economic instability. Princeton University geologist Kenneth S. Deffeyes predicts "a permanent state of oil shortage."

Full Article Here

Now people might start to see what's looming in our futures. The more people that know about Peak Oil the better. Oil conservation may just become a reality. And who knows, maybe alternative fuel sources might just gain some popularity. All we can do now is just spread the word. This issue can't be kept under wraps any longer.

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