Peak Oil is You

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Page added on April 29, 2007

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Preparing for ‘peak oil’

The world has a big problem: It’s running out of oil. According to a recent Government Accountability Office report, the long-awaited “peak oil” crisis will certainly happen by 2040 – and may be happening right now.

Fortunately, President Bush has a strong energy plan in place that can be easily augmented to respond to concerns in both the oil industry and the global warming community.

According to the GAO, “Many studies indicate that oil production will peak between now and 2040.” Eleven of the 20 studies referred to in the report show peak oil production occurring now. Further, it says, “more than 60 percent of the world oil reserves are in countries where relatively unstable political conditions could constrain oil exploration and production.”

The GAO calls on the secretary of energy, in coordination with other relevant federal agencies, to establish a peak oil strategy.

Although this crisis has implications for everyone in the United States – and indeed, virtually everyone on the planet – the American public is barely aware of the issue. Some oil industry experts, such as Matt Simmons of Simmons & Co. in Houston, predict the imminent peaking of Saudi Arabia’s oil production capacity.

Baltimore Sun

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