Rise in World Oil Use and a Possible Shortage of Supplies Are Seen in the Next 5 Years

Rise in World Oil Use and a Possible Shortage of Supplies Are Seen in the Next 5 Years

www.nytimes.com

Despite four years of high prices and warnings about climate change, a new report Monday predicted that world oil demand would rise faster than previously expected over the next five years while production slips, threatening a supply crisis.

In the report, the International Energy Agency, which is based in Paris and advises 26 industrial nations, said that global oil demand would rise by an average of 2.2 percent a year from this year to 2012, up from a forecast in February of 2 percent annual growth from 2006 to 2011.

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[edit on 10-7-2007 by UM_Gazz]

Looks like "Peak Oil" will be coming sooner than most people anticipated, if they even anticipated it at all. I'm glad to see something that's been a reasonably large featured area here on ATS making it to a mainstream media site, even if they shy away from really debating the massive impact that this situation will have on almost every single aspect of our lives - and how this is a situation that should be considered globally immediately in order to offset that impact..

I hope though, that people can come to this conclusion by themselves, and take steps in their own ways to reduce their consumption as much as possible.

www.nytimes.com
(visit the link for the full news article)

The oil companies may manufacture scarcity but i think that peak oil is a scam to keep prices high.

Finite resource. Infinitely increasing demand..

It's not manufactured scarcity, it's something that can, and will happen..

It's like taking a big bucket of fried chicken.. It will last one person quite a while, but if you put 10 sumo wrestlers in front of it, that chicken's gone before you can say "Who ordere..."

Originally posted by Inannamute
Finite resource. Infinitely increasing demand..

It's not manufactured scarcity, it's something that can, and will happen..

It's like taking a big bucket of fried chicken.. It will last one person quite a while, but if you put 10 sumo wrestlers in front of it, that chicken's gone before you can say "Who ordere..."

spot on and funny. And of course, instead of looking into real alternative energy options, we look into half chances, like hybrids. And will continue down this path until the last drop is removed from the last well or sand bed.

This is the biggest lie ever. There is more than enough oil in the gulf of Mexico and the Arctic to last us 100 years. The oil company's are akin to Satan himself. Big oil wants to pay low and run the mid-east dry then they may actually spend all of that money they have made off us to explore new Fields. We still have a lot of oil in the mid-west U.S. The tree huggers are also makeing the price of oil go up so thank them too.