Clinton takes Limelight and Acknowledges Peak Oil

[katty]

more: http://deepbutter.blogspot.com/2006/06/after-al-gore-bill-clinton-takes.html

AFTER AL GORE, BILL CLINTON TAKES THE LIMELIGHT AND ACKNOWLEDGES PEAK OIL


Related Stories: LARRY KING INTERVIEWS AL GORE. AL GORE UTTERS THE WORDS "PEAK OIL". (First appeared on THE DII)

Former U.S. president Bill Clinton has urged newspaper editors to focus more attention on the depletion of the world’s oil reserves. In a June 17 speech to the Association of Alternative Newsweeklies convention in Little Rock, Arkansas, Clinton said a “significant number of petroleum geologists” have warned that the world could be nearing the peak in oil production.

Clinton suggested that at current consumption rates (now more than 30 billion barrels per year, according to the International Energy Agency), the world could be out of “recoverable oil” in 35 to 50 years, elevating the risk of “resource-based wars of all kinds”.

During a question-and-answer period, the Georgia Straight asked Clinton if he believed that Saudi Arabia, Iran, Kuwait, and United Arab Emirates had exaggerated claims about their proven oil reserves. The four Persian Gulf states are among the six nations with the greatest listed proven reserves. (Canada and Iraq are the other two.)

“I don’t know if they’re overstating their reserves,” Clinton replied. He added that he expects oil prices will reach US$100 per barrel “in five years or less”.

[MrTriumph]

1. Clinton could be dead wrong.

I attended an energy seminar in Dallas in 1976 or 1977. ALL the oil company experts were claiming oil was running out quickly and $100 a barrel oil would arrive quickly. A smiling Nelson Rockefeller was in attendance.

Granted there is a bigger world-wide demand for oil, but just as technology made $10/barrel oil possible in the 1990s, technology continues to advance today.

Bill could be wrong about peak oil just as he was wrong about NAFTA. Just who does Bill get his information from anyway?

[depakid]

3. Bill's only acknowledging what's obvious

to just about everyone who's looked at the data.

Demand is growing- but world production figures are flat, Saudi Arabia has lost it pricing power and large price fluctuations are occurring.

Watch as the moving average goes higher and higher. They're not going to syop at $100 a barrel.

[katty]

2. perhaps, and don't know where he may be getting info...

there are so many sources online and oil traders that having been speaking out for years.
I am not going to list webs here, easy to google for peak oil/articles, et al

[wallwriter]

4. Too bad there's no way to find oil substitutes...

...or to conserve. Oh, wait. There are dozens of promising technologies and hundreds of ways to reduce consumption.

But that would mean we'd have to stop driving SUV's and spend money on research instead of invading middle Eastern countries...

Guess it'll never happen.

[yurbud]

5. It at least needs to be discussed if you see charts on discovery...

there's good reason to believe the peak is coming, just as it did here in the US in the early 70s.