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Politics : President Barack Obama
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To: stockman_scott who wrote (78176)6/13/2010 5:38:44 AM
From: Wharf Rat  Read Replies (2) of 149317
 
Obama critics overlooked peak oil, and the fact that we can't run if we don't have our juice. They live in a wonderfully utopian world in which it is all there for the asking.

What Obama didn't know then was that a drilling moratorium on existing leases would cost the world another 500,000 BPD (for 4 years), at a time when we will be pumping only 84% of what we produce today. That would be in 2015, or in about 1500 days. He knew about the 10M BPD; he just hadn't figured on 10.5. He also knows "let's go solar" takes longer to do than to say, even if he says it non-stop for the next 15 years.
He also knows losing 10 BPD means the US will be down at least 2.5 M BPD, which loosely means 15-20% unemployment.
He's a lot smarter than his critics.
In fact, if his critics were twice as smart as they think they are, they would still be half as smart as Obama.
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