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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (234957)	1/17/2008 6:17:54 AM
From: Snowshoe	Respond to of 793990

>>The country continues to live in a "fairy tale" land of energy.<< Why the hurry to pump America dry first? <g> I do think the drilling restrictions force us to conserve US supply for future development at a measured pace. And higher energy prices stimulate valuable innovation like LED lighting and the electric car. P.S. CERA is coming out today with one of it's trademark pie-in-the-sky reports downplaying peak oil... New Fields May Offset Oil Drop By NEIL KING JR. January 17, 2008; Page A4 Output from the world's existing oil fields is declining at a rate of about 4.5% annually, a new study concludes, depriving the world of the same amount of oil that No. 4 producer Iran supplies in a year. Yet the study's authors, Boston-based Cambridge Energy Research Associates, argue that their assessment supports a generally rosy view of the industry's future, given that new projects in the works will make up for the decline. $: online.wsj.com