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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End?

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From: Doug R	2/11/2006 1:27:29 PM
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During an interview with former Commerce Secretary Don Evans, a friend to President Bush and former member of his administration, there is this; "We cannot continue to go down the path that we‘re going down, because there is not enough supply of oil in the world to grow our economy or the global economy at its full potential." "...that is my bottom line. The world is producing oil, the Middle East, every country at its full capacity and it‘s very unlikely that we‘re going to be able to see supply in the world grow from the levels where we are right now. There‘s a debate about that. I‘m one that falls in the camp that says it‘s going to be very, very hard to do that. But what I do know is China needs to continue to grow, India needs to continue to grow, America needs to continue to grow. So what that simply says is we‘ve got to develop new forms of energy for the United States and the world. MATTHEWS: That‘s a great cause. We‘ll be right back. I too am worried Mr. Secretary that some day China is going to have the economic power to buy all the trees in North America, and all the oil in the world and we‘re going to be sitting there begging for assistance. msnbc.msn.com

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