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Goodbye to Cheap Oil - Mother Jones (2 posts)

  1. truthmod
    Administrator

    http://www.motherjones.com/economy/2009/06/goodbye...

    Every summer, the Energy Information Administration (EIA) of the U.S. Department of Energy issues its International Energy Outlook (IEO)—a jam-packed compendium of data and analysis on the evolving world energy equation. For those with the background to interpret its key statistical findings, the release of the IEO can provide a unique opportunity to gauge important shifts in global energy trends, much as reports of routine Communist Party functions in the party journal Pravda once provided America's Kremlin watchers with insights into changes in the Soviet Union's top leadership circle.

    As it happens, the recent release of the 2009 IEO has provided energy watchers with a feast of significant revelations. By far the most significant disclosure: the IEO predicts a sharp drop in projected future world oil output (compared to previous expectations) and a corresponding increase in reliance on what are called "unconventional fuels"—oil sands, ultra-deep oil, shale oil, and biofuels.

    So here's the headline for you: For the first time, the well-respected Energy Information Administration appears to be joining with those experts who have long argued that the era of cheap and plentiful oil is drawing to a close. Almost as notable, when it comes to news, the 2009 report highlights Asia's insatiable demand for energy and suggests that China is moving ever closer to the point at which it will overtake the United States as the world's number one energy consumer. Clearly, a new era of cutthroat energy competition is upon us.

    Posted 15 years ago #
  2. mark
    Member

    I'm glad that Mother Jones has been more willing to publish material about Peak Oil now that we are passing the point of Peak Oil. Perhaps they can explain to the readers why they were less interested in discussing it before the invasion of Iraq, or as a motive why the warnings 9/11 was imminent were deliberately ignored.

    Posted 15 years ago #

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