I just found this article from about a week ago, outlining the potential oil crisis
in the imminent future.
The other option is to reduce demand, West said, “but that involves pain”—and the United States has failed in this respect as well. The size
of cars, for example, has only grown in recent years. This led West to make a sobering prediction: Only the “massive economic dislocation” caused
by an oil shortage will induce American leaders to find alternatives to petroleum and make the tough choices necessary to curb demand.
Also, this article is from the end of
September, outlines an oil crisis then too:
The report has him accusing the petroleum industry of having its head "in the sand" about the upcoming depletion of supplies, and warned that "
[w]e may be sleepwalking into a problem, which is actually going to be very serious, and it may be too late to do anything about it by the time we are
fully aware."
In the same article, Oxburgh also added that oil companies must invest more heavily in developing viable alternatives to oil and gas.
The writer of the article concludes: "The International Energy Agency has forecast what it calls an oil 'supply crunch' by 2012, a prediction that
Lord Oxburgh said could possibly come to pass."
The year 2012 is not that far off. This is a serious and urgent issue - one that needs to be recognized as such if we want to have a fighting chance
of preventing the worst consequences of this 'crunch' that is upon us.
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Found another one:
This article states: Business Report, South Africa - Sep 14, 2007
This brings us to Guinness' prediction that the oil price will hit $150 a barrel in three years time.
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Yep, all that'll happen is the return of the early 1800's. We'll be able to catch and farm food, we'll have sail ships, horses, clothing etc.
Won't be so bad actually, the world's not really that cool right now so a change like that would be welcome.
What do you reckon?
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In three years time, we'll have nearly as much oil as we have right now. The problem is that OPEC and the other oil producing nations will realize
that oil is a finite resource and the price will be much higher. $100 a barrel oil is workable but people are going to start feeling a pinch. That
means we won't have money to buy plasma televisions, jet to Jamaica on the weekend, or buy the H4. These things will still be around but the price of
these items will be very high and low on your list of priorities.
It's a squeeze on the middle class but I wouldn't suggest that we'll be driving a horse and buggy quite yet.
[edit on 17-10-2007 by dbates]
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