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

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To: Mahatmabenfoo who wrote (416)	4/23/2005 1:39:50 PM
From: kryptonic6	Read Replies (1) of 1183

"...we need a wake-up call, and leaders who will respond the right way." At least someone is doing the right thing: Congressman Roscoe Bartlett Votes No on Energy Bill Global Public Media Washington, DC - Congressman Roscoe Bartlett today voted "NO" on H.R. 6, the Energy Bill. "I voted no because the energy bill falls far short of President Bush's strategy to respond to the reality of threats to America's economic and national security from our dependence upon cheap imported oil. Oil isn't forever. It's a finite resource. We are relying upon countries that don't like us to sell us their oil. We're competing against other countries to buy oil, such as China now the world's #2 importer behind America." "Increasing world demand and global peak oil, or stagnating production, means that oil prices will rise. The end of cheap oil is coming and coming fast. It is a tsunami we can predict that will have devastating consequences worldwide. The President recommends steps to meet this growing threat. I am hopeful the Senate bill and Conference will produce a final bill to implement the President's vision that I can support." "America has only 2 percent of the world's known oil reserves," noted Congressman Bartlett. "We produce 8 percent and consume 25 percent of the oil produced worldwide and import 2/3 of the oil we use. We imported 1/3 at the time of the Arab Oil embargo. Oil production in the U.S. peaked in 1970 and has declined every year since then. Alaska and Gulf of Mexico oil slowed, but haven't and can't changed that trend. Energy experts agree that America can never produce enough oil domestically to meet our current or future demand." (21 Apr, 2005) globalpublicmedia.com Jesse

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