The Energy Report

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…Holy Peaks! The Peak Freaks – if you believe the government – had it right all the time! First global warming then peak oil! What catastrophe awaits us next! In fact the world is getting so scary I am afraid to get out of bed in the morning. But there it is in black and white as the Peak Freaks are getting government credibility! And if the government says it then it must be true! And then it can be proven perhaps in a court of law! Remember the end of the movie “Miracle on 34th Street” when the judge had to agree that Kris Kringle was the one and only Santa because the post office – an agency of the federal government – said its so. Well if the government says it’s so well then, it must be true and the world better get ready for peak oil.


That’s right. A report by the United States Government Accountability Office (GAO) to Congressional Requesters said that, “Uncertainty about future oil supply makes it important to develop a strategy for addressing a peak and decline on oil production”. Oh my! And in this report it said that most studies estimate that oil production will peak now (as in this very moment) and the year 2040. Which means oil may peak right now or when I am 84 four years old which by the way makes it difficult for me to make in to my 90th!

The GAO says this range is wide because the multiple, uncertain factors (welcome to my world) will help determine how quickly the oil remaining in the ground is used, including the amount of oil still in the ground, how much that oil can ultimately be produced given the technological cost, and environmental challenges. As well as potentially unfavorable political and investment conditions in some countries where oil is located and future global demand for oil. Demand for oil will, in turn, be influenced by global economic growth and may be affected by government policies on the environment and climate change and consumer choices about conservation. (Like driving the Prius I guess).

FX Street