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Politics : DON'T START THE WAR -- Ignore unavailable to you. Want to Upgrade?

To: Bill Jackson who wrote (20598)	3/13/2003 11:22:30 PM
From: PartyTime	Read Replies (1) \| Respond to of 25898

"....The same year Cheney, et al, wrote their papers on The New American Century, I wrote a book about the coming end of American peace and prosperity because of our dependence on a dwindling supply of oil. "Since the discovery of oil in Titusville, PA, where the world's first oil well was drilled in 1859," I wrote in The Last Hours of Ancient Sunlight, "humans have extracted 742 billion barrels of oil from the Earth. Currently, world oil reserves are estimated at about 1,000 billion barrels, which will last (according to the most optimistic estimates of the oil industry) 'for almost 45 years at current rates of consumption.'" "But that doesn't mean that we'll suck on the straw for 45 years and then it'll suddenly stop. When about half the oil has been removed from an underground oil field, it starts to get much harder (and thus more expensive) to extract the remaining half. The last third to quarter can be excruciatingly expensive to extract - so much so that wells these days that have hit that point are usually just capped because it costs more to extract the oil than it can be sold for, or it's more profitable to ship oil in from the Middle East, even after accounting for the cost of shipping. "The halfway point of an oil field is referred to as "The Hubbert Peak," after scientist M. King Hubbert, who first pointed this out in 1956 and projected 1970 as the year for the Hubbert Peak of US oil supplies. Hubbert was off by four years - 1974 saw the initial decline in US oil production and the consequent rise in price. In 1975, Hubbert, who is now deceased, projected 2000 for a worldwide Hubbert Peak. Once that point had been hit, he and other experts suggested, the world could expect economy-destabilizing spikes in the price of oil, and wars to begin over control of this vital resource. "Most of the world has now been digitally "X-rayed" using satellites, seismic data, and computers, in the process of locating 41,000 oil fields. Over 641,000 exploratory wells have been drilled, and virtually all fields which show any promise are well-known and factored into the one-trillion barrel estimate the oil industry uses for world oil reserves. "And of that 1 trillion barrels, Saudi Arabia has about 259 billion barrels and Iraq is estimated by the US Government to have 432 billion barrels, although at the moment only about 112 billion barrels have been tapped. The rest, virgin oil, can be pumped out for as little as $1.50 a barrel, making Iraqi oil not only the most abundant in the world, but the most profitable. This at a time when virtually all American oil fields (except the Alaska North Slope) have dwindled past the Hubbert Peak into $5 to $25 per barrel pumping costs. "Thus, we see that our "lifestyle" - our ability to maintain our auto-based transportation systems, our demand for big, warm houses, and our appetite for a wide variety of cheap foods and consumer goods - is currently based on access to cheap oil. If we assume that the American people won't tolerate a change in that lifestyle, then we can extrapolate that our very security as a stable democracy is dependent on cheap oil. "Viewed in this context, the rush to seize control of the Middle East - where about a third of the planet's oil is located - makes perfect sense. It's a noble endeavor, in that view, maintaining the strength and vitality of the American Empire. "Of course, there are a few cracks in this vision. In order to have such a new American century, we must be willing to foul our waters and air with the byproducts of oil combustion and oil-fired power plants, and tolerate the explosions in cancer they bring. We must be willing to gamble that raising CO2 levels won't destabilize the atmosphere and tip us into a new ice age by shutting down the Great Conveyor Belt warm-water currents in the Atlantic. We must be willing to hold the rest of the world off at the point of a bayonet, and to take on the England/Northern Ireland and Israel/Palestine type of terrorism that inevitably comes when people decide to assert nationalism and confront empire...." commondreams.org