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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (136109)	4/7/2010 9:12:35 PM
From: Wharf Rat	Respond to of 541953

The Pentagon also expects an imminent oil shock Matthieu Auzanneau, "Oil Man" blog, Le Monde The figures of the U.S. Joint Forces agree with those of the Department of Energy, revealed here. --- 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." 10 million barrels per day (MBD), that represents the production of Saudi Arabia, the world's leading petroleum producer. Such a shortfall, if it should come, would be more than 10 percent of the world demand for crude, which is today 86.5 MBD, and ought to reach 90 MBD in 2015. If this hypothesis of the Pentagon comes to pass, a third oil shock would hit the world economy, one that would probably be more violent than the two preceding ones. But in fact, 10 MBD in 2015 ... An identical prediction of a gap of 10 MBD between supply and demand in 2015 appeared on page 8 in the Department of Energy (DoE) document published in investigative report here on March 21. The DoD and the DoE seem to agree on the same prediction ... breathtaking. (6 April 2010) My rough translation from a post by French journalist Matthieu Auzanneau now online: Le Pentagone s’attend lui aussi à un choc pétrolier imminent. Earlier in March, Auzanneau published an article which garnered widespread attention: Washington considers a decline of world oil production as of 2011 We ran another story by Rick Munroe on the DoD report in March: Joint Operating Environment 2010: Oil Supply Concerns (review) energybulletin.net