[MonteQuest]

Report of an Independent Task Force Cosponsored by the James A. Baker III Institute for Public Policy of Rice University and the Council on Foreign Relations.

$this->bbcode_second_pass_quote('', 'S')trong economic growth across the globe and new global demands for more energy have meant the end of sustained surplus capacity in hydrocarbon fuels and the beginning of capacity limitations.In fact, the world is currently precariously close to utilizing all of its available oil-production capacity, raising the chances of an oil-supply crisis with more substantial consequences than seen in three decades.These limits mean that America can no longer assume that oil-producing states will provide more oil. Nor is it strategically and politically desirable to remedy our present tenuous situation by simply increasing our dependence on a few foreign sources.

So, we come to the report’s central dilemma: the American people continue to demand plentiful and cheap energy without sacrifice or inconvenience. But emerging technologies are not yet commercially viable to fill shortages and will not be for some time. Nor is surplus energy capacity available at this time to meet such
demands. Indeed, the situation is worse than the oil shocks of the past because in the present energy situation, the tight oil market condition is coupled with shortages of natural gas in the United States, heating fuels for the winter, and electricity supplies in certain localities.

Moreover, the energy problem is inexorably intertwined with the fundamental challenge of creating sustainable economic growth without sacrificing environmental protection.The pursuit of a solution demands a major national effort.

[highlander]

Well, that sums it up pretty nicely. And from the CFR! Is it official yet?
Thanks for the post, Monte!

[seahorse2]

I think that is the same report that's discussed here as well:

Peak Oil Forum Topic

Definitely needs to be talked about some more - puts more perspective on who believes what at the highest levels