Making money for certain "groups" is just a bonus, the two main goals are Bush Jr. wanting to finish his father's work and the need for a secure supply of oil.
Has anyone here looked at the numbers for future oil demand and current production levels?
The following is a remarkable statement from the March 2005 newsletter of the Association for the Study of Peak Oil and Gas (ASPO). In it, the DOE states that that "Initiating crash program mitigation 20 years before peaking offers the possibility of avoiding a world liquid fuels shortfall for the forecast period", whereas initiating a program only 10 years before "would still result in a worldwide liquid fuels shortfall", and waiting to start the program until oil actually peaks would "leave the world with a significant liquid fuel deficit for two decades or longer"
It further states that "Without timely mitigation, world supply/demand balance will be achieved through massive demand destruction (shortages), accompanied by huge oil price increases, both of which would create a long period of significant economic hardship worldwide."
Other comments include:
"In the developed nations, the economic problems associated with world oil peaking and the resultant oil shortages will be extremely serious. In the developing nations, economic problems will be much worse"
" Government intervention will be essential, because the economic and social impacts of oil peaking will otherwise be chaotic"
"World oil peaking represents a problem like none other. The political, economic, and social stakes are enormous. Prudent risk management demands urgent attention and early action."
http://www.drydipstick.com/doemarch05.htmlFinancial Times: Fears emerge over Russia’s oil output
Leonid Fedun, the 52-year-old vice-president of Lukoil, Russia’s largest independent oil company, told the Financial Times he believed last year’s Russian oil production of about 10m barrels a day was the highest he would see “in his lifetime”. Russia is the world’s second biggest oil producer.
Mr Fedun compared Russia with the North Sea and Mexico, where oil production is declining dramatically, saying that in the oil-rich region of western Siberia, the mainstay of Russian output, “the period of intense oil production [growth] is over”.
http://royaldutchshellplc.com/2008/04/15/fears-emerge-over-russia%E2%80%99s-oil-output/Kuwait and IEA Show Declining Oil Production Future
10 Jul 2007
AMSTERDAM (ResourceInvestor.com) -- Crude oil prices could reach levels of US$100 per barrel or more if some of the latest production factors in the news become reality.
Not only has the Paris-based International Energy Agency (IEA), the energy watchdog of the Organisation for Economic Co-operation and Development (OECD) countries, warned in its latest medium-term oil market report that a market crunch is looming over around 2012, but some OPEC producers are breaking even more negative news. After a short analysis hype in the beginning of 2006, analysts have been forgetting to cover OPEC countries currently battling reserve issues.
http://www.resourceinvestor.com/pebble.asp?relid=33717Mexico's oil production falls 6.4 percent in first two months of year
The Associated Press
Published: March 24, 2008
http://www.iht.com/articles/ap/2008/03/24/business/LA-FIN-Mexico-Oil-Production.phpOil shortage threatens military
By Marianne Lavelle
Posted 3/15/06
A grim view of the nation's energy future, and its implications for the military, emerges in a just released report by the U.S. Army Corps of Engineers.
"The days of inexpensive, convenient, abundant energy sources are quickly drawing to a close," says the report, titled "Energy Trends and Their Implications for U.S. Army Installations." It concludes that at the current rate of consumption and production decline, the lifetime of proven domestic oil reserves is only 3.4 years. It projects the lifetime of proven worldwide oil reserves at 41 years, but with declining availability, noting that Saudi Arabia – home to the bulk of those reserves – has not increased production in three years.
http://www.usnews.com/usnews/news/articles/060315/15natsec.htm////////
I know it is difficult to know who to believe when it comes to the future of oil production and reserves. If all the "proven" reserves were already tapped and producing, all we would need is some more refineries and that would buy us some much needed time, but this is not the case.
Right now production is slowly starting to decline in most of the world's largest oil fields. With the increase in demand from developing nations like India and China, it is obvious we are headed for an energy crunch. It might be possible to increase production in some countries like Saudi Arabia, but in my opinion, they have over stated their reserves.
It is common sense that if the US is going to continue to rely on oil for transportation, that we need to secure a large supply of oil under our own protection. It is vital to national security. While I do not agree with the methods, I understand the need.
Common sense.
