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Heavy-Handed Politics

"€œGod willing, with the force of God behind it, we shall soon experience a world
without the United States and Zionism."€ -- Iran President Ahmadi-Nejad

Wednesday, January 10, 2007

Political Peak Oil

Quite interesting and somewhat ominous article:

One thing stands in the way of secure and abundant supplies of oil: Government
By Ronald Bailey
Reason Magazine

"Petroleum geologists are pretty sure that there is more than enough oil in the world to meet projected demand for at least the next 25 years. In other words, as I reported in my article “Peak Oil Panic” last year, geologically speaking “peak oil” is at least a generation away.

But the days when you could punch a hole in the ground and up would bubble some crude have now passed. It will take increasing technical savvy and a lot of money to keep oil production up with demand. Fortunately, the International Energy Agency believes that projected demand for oil and gas can be met if producers invest $4.3 trillion and $3.9 trillion (in 2005 dollars) respectively over the next 25 years. The question is that level of investment happening?

That’s were I get worried." Read on....

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