Quod Erat Demonstrandum
- Jul 8, 2009
- Reaction score
U.S. military warns of oil production shortage by 2015 — Autoblog Green
The U.S. Joint Forces command has issued a Joint Operating Environment report that states that surplus oil production capacity could disappear within two years and that there could be serious shortages by 2015. From the report:
By 2012, surplus oil production capacity could entirely disappear, and as early as 2015, the shortfall in output could reach nearly 10 million barrels per day, While it is difficult to predict precisely what economic, political, and strategic effects such a shortfall might produce, it surely would reduce the prospects for growth in both the developing and developed worlds. Such an economic slowdown would exacerbate other unresolved tensions, push fragile and failing states further down the path toward collapse, and perhaps have serious economic impact on both China and India.
Like we didn't have enough problems, already. As noted by the above article, a Kuwaiti commission came to the same conclusion...2012-2015.
Perhaps this is why Obama recently allowed for more offshore drilling?