[Questionmark]

Between the Hirsch report and the recent Military report on energy I don't see how anybody can believe the administration to be blind to the issue and it's implications. I don't believe that they're going to be of any help when TSHTF but I'm sure they have some sort of plan to at least preserve their power and maintain control over the country. And 10 to 40 years from 2005 places Chu's estimate as early as 2015, which is actually fairly accurate and impressive given the fact that the oil production plateau began in that year and it wasn't as clear then as it is now that we've reached peak. You guys are choosing to focus on the later estimate because it fits your narrative better.

[deMolay]

Well I guess the the theory of the original post. THe US can't handle $90 dollar oil is about to be tested. It just hit $89 / barrel..

[Plantagenet]

$this->bbcode_second_pass_quote('Questionmark', '')$this->bbcode_second_pass_quote('Plantagenet', '
')$this->bbcode_second_pass_quote('', '')$this->bbcode_second_pass_quote('Questionmark', '
') And the military itself recently released a report on the topic.

[diemos]

$this->bbcode_second_pass_quote('Plantagenet', '[')i]"Global petroleum demand has increased steadily
from about 63 million barrels of oil per day in 1980 to more than 85 million barrels today, and will grow to 110.6 million barrels per day by 2035 if
current trends hold." The whole idea that oil production can grow to 110 million BBL/DAY by 2035 is the OPPOSITE of the concept of peak oil.

[Outcast_Searcher]

Back on point, America can clearly survive $90.00 oil. It is basically doing that now. The jobless are basically screwed without ongoing unemployment checks, but at the end of the day, they'll likely get them. After all, we've become bailout nation.

America can survive $150.00 oil, though more people will be forced to change things about the way they live, and their will be considerably more whining about it.

The real issue, is should America be utilizing a comprehensive, strategic energy policy, designed to deal with the real-world energy issues facing us?

Clearly, most folks here would answer "yes". However, given that our government cannot do almost ANYTHING effectively, and that it seems able to put off and/or dismiss ANY issue until it is totally in our face makes the odds of this unlikely.

Add to that you can't even get reasonable consensus (even on an energy site like this) on what the problem is, what the priorities should be, or even IF there is a problem.

So, IMO, the problem, as a trend, will continue to escalate until people are REALLY PISSED OFF about it, and only then, will there be some expensive and hysterical shuffling around to really deal with it.

The only question in my mind is what the sustained average price of a barrel of oil will be by then. I'm guessing between $150 and $300 a barrel. (If the middle east ignites, $300 could become a reality frighteningly quickly).

So I'll continue to buy energy MLP's and oil stocks on dips, thank you very much -- until I see a good reason not to.

And no, I'm not dismissing green tech. I just think it will take 20 to 40 years to scale up reasonably, especially as little government resources folks want to back it with before we hit the major crisis stage.

[vision-master]

Start making soup. Just finished off a very large bowl of some homemade stuff.

[Plantagenet]

$this->bbcode_second_pass_quote('diemos', '')$this->bbcode_second_pass_quote('Plantagenet', ' ')CNAS claims that "Global petroleum demand has increased steadily
from about 63 million barrels of oil per day in 1980 to more than 85 million barrels today, and will grow to 110.6 million barrels per day by 2035 if
current trends hold." The whole idea that oil production can grow to 110 million BBL/DAY by 2035 is the OPPOSITE of the concept of peak oil.

[vision-master]

Name some Dems Planted....

[Questionmark]

$this->bbcode_second_pass_quote('Plantagenet', '
')
Uhm hello? Hello? HELLO????

Please stop misrepresenting the facts. If you'll stop making things up and actually read the report you link to you'll find that the report you cite is not a US military report. It is not even a US government report. The Center for New American Security is a non-governmental organization that studies the military and opines about the military, but any report by the CNAS is only a report by a private non-governmental group----it most definitely is not a report released by the U.S. military as you falsely claimed.

Furthermore, if you take the time to read the report, you'll find that nowhere does the CNAS report even mention "peak oil." The closest their report comes to it is a brief discussion about "disturbing trends in oil supply" but contrary to your false claim this report doesn't mention peak oil at oil and doesn't discuss the concept of peak oil at all.

In fact the report states that "Global petroleum demand has increased steadily
from about 63 million barrels of oil per day in 1980 to more than 85 million barrels today, and will grow to 110.6 million barrels per day by 2035 if
current trends hold." The whole idea that oil production can grow to 110 million BBL/DAY by 2035 is the OPPOSITE of the concept of peak oil.

You are lying about this. Please stop.

[diemos]

$this->bbcode_second_pass_quote('Plantagenet', '
')The peak oil problem requires some honesty, courage and leadership from our political leaders.

[mos6507]

$this->bbcode_second_pass_quote('Plantagenet', '
')The peak oil problem requires some honesty, courage and leadership from our political leaders.

[Fiddlerdave]

$this->bbcode_second_pass_quote('Plantagenet', 'T')he whole idea that oil production can grow to 110 million BBL/DAY by 2035 is the OPPOSITE of the concept of peak oil.

You are lying about this. Please stop.

[Xenophobe]

$this->bbcode_second_pass_quote('Fiddlerdave', '
')Oil rights holders will be gods. Thus, the current wars in the ME.

[Questionmark]

$this->bbcode_second_pass_quote('Xenophobe', '')$this->bbcode_second_pass_quote('Fiddlerdave', '
')Oil rights holders will be gods. Thus, the current wars in the ME.

[Xenophobe]

$this->bbcode_second_pass_quote('Questionmark', '')$this->bbcode_second_pass_quote('Xenophobe', '')$this->bbcode_second_pass_quote('Fiddlerdave', '
')Oil rights holders will be gods. Thus, the current wars in the ME.

[Questionmark]

I don't expect the U.S. to outright steal it, just to strong arm Iraq into giving it first dibs on it when it reaches it's maximum potential in a few years and we begin to see demand outstripping supply.

[vtsnowedin]

Just what do you think the chances are of KSA or any other mid east oil exporter cutting off oil exports to the USA as long as we have 100,000+/- troops with all their toys sitting in Iraq,Kuwait and Afghanistan? Do you think that would be a winning strategy for them?

[Xenophobe]

$this->bbcode_second_pass_quote('Questionmark', 'I') don't expect the U.S. to outright steal it, just to strong arm Iraq into giving it first dibs on it when it reaches it's maximum potential in a few years and we begin to see demand outstripping supply.

[careinke]

$this->bbcode_second_pass_quote('Xenophobe', '')$this->bbcode_second_pass_quote('Questionmark', '')$this->bbcode_second_pass_quote('Xenophobe', '')$this->bbcode_second_pass_quote('Fiddlerdave', '
')Oil rights holders will be gods. Thus, the current wars in the ME.