Assistant Energy Secretary Alexander Karsner said that "[t]he places where oil can be found and extracted and brought to bear in the world are decreasing. It will get harder, and demand will outstrip supply for probably the rest of my lifetime."
is peak oil for real?
I don't know.
But I do know that there is a finite quantity of oil in the Earth. And with the increasing demand from China and India, that does not bode well for anyone. Given that oil wells are drying up here, can we not expect that soon, worldwide, they will be drying up. I fully expect that with the next decade, we will see $200/barrel oil and $5 at the pump. Heck, I expect to see $4 gasoline later this year. All this does not bode well for any of us: northern homes need oil for heat, food need oil for transportation, and we all need gasoline to get to work. Alternate energy sources are a must. Wasn't it Jimmy Carter, in the late 1970s said that the US needs an energy policy---"...It is the moral equivalent of war...." ???
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