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Politics : President Barack Obama
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To: tejek who wrote (86668)12/11/2010 3:40:54 PM
From: Wharf Rat  Read Replies (2) of 149317
 
It will be at least 20 years B4 we get down to 8%. Doesn't matter who is president. It's called "Oil production peaked in '05, and we ain't ready." The economic climate will not be favorable for an election.

When the crash hit, oil producers kept pumping, using floating shortage. That's being drawn down & may be gone by June.
Oil and gasoline are already going up.
Gonna be demand destruction all over again. I doubt we will ever get back to consuming the equivalent of 20.7 MPBD. Well, we will eventually get back to the good old days, but that won't happen until we build out a green economy...Hirsch of the Hirsch Report sez things will be fine by 2050 (altho he only looks at energy, and not climate).

China is using what we gave up. Can't grow without energy. Wishing won't do it. Here's where we are now.. back up to 19.09 MBPD

eia.doe.gov

A report from the American Joint Forces Command published March 15 predicts that in 2015, the world capacity for petroleum prouction could be 10 million barrels per day less than the demand.
The report of the American Department of Defense (DoD), titled Joint Operating Environemnt 2010 indicates (page 29):

"By 2012, surplus oil production capacity could entirely disappear, and as early as 2015. the shortfall in output could reach nearly 10 MBD."
energybulletin.net

Uh, 2012 comes in 395 daze.
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