Interesting article today in the Guardian on peak oil. The scariest line:
According to the IEA, demand rose faster in 2004 than in any year since 1976. China’s oil consumption, which accounted for a third of extra global demand last year, grew 17 percent and is expected to double over 15 years to more than 10 million barrels a day — half the United States’ present demand. India’s consumption is expected to rise by nearly 30 percent in the next five years. If world demand continues to grow at 2 percent a year, then almost 160 million barrels a day will need to be extracted in 2035, twice as much as today. That, say most geologists, is almost inconceivable. According to industry consultants IHS Energy, 90 percent of all known reserves are now in production, suggesting that few major discoveries remain to be made.
It’s way past time we started looking at alternative energy sources as a total replacement for oil. Let the rest of the world fight it out. Here is a perfect opportunity to lead the world and make big money off new innovation in clean and efficient fuels. It’s too bad that the entire Bush regime has its roots in the oil industry. Time to wake up, people. It’s a matter of national security.