The Future of Oil: Peak Prices, Peak Production, Piqued Consumers

The Future of Oil: Peak Prices, Peak Production, Piqued Consumers – Select Committee on Energy Independence and Global Warming – 2008-06-11 – WASHINGTON (June 9, 2008) – As prices at the pump reach record levels on a daily basis, many consumers and analysts are asking the same questions: How bad could prices get? And what policies are needed to address America’s oil crisis? On Wednesday, June 11, Chairman Edward J. Markey (D-Mass.) and the Select Committee on Energy Independence and Global Warming will examine the long term prognosis for oil’s global supply and demand, and what solutions could be implemented to reduce demand and decrease prices. A barrel of oil reached a new record price on Friday, and many analysts are saying 00 oil is a potentially imminent threat. Yet our own government energy analysts are saying oil could slide back to 0 a barrel, and supplies could increase, even as the private sector disagrees. The Select Committee will discuss this disconnect, as well as the global warming concerns of non-traditional oil retrieval methods like oil shale and oil sands. WITNESS LIST: Guy Caruso, Administrator, Energy Information Administration; Adam Sieminski, Chief Energy Economist, Deutsche Bank; Amy Myers Jaffe, Energy Studies Fellow at the James Baker Institute for Public Policy; Athan Manuel, Director of Land Protection Programs, Sierra Club; Karen Harbert, Managing Director and Executive Vice President, Institute for 21st Century Energy US Chamber of Commerce. Video provided by the U.S. House of Representatives.