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03/06/2011

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Unbound

There is a Reuters piece posted on Yahoo News entitled White House considers tapping oil reserves. The oil reserves in question are that of the SPR.

http://news.yahoo.com/s/nm/us_usa_energy_reserves;_ylt=Apjfvd1aylwbYoPdckoE0Res0NUE;_ylu=X3oDMTNxdW9qZGI3BGFzc2V0A25tLzIwMTEwMzA2L3VzX3VzYV9lbmVyZ3lfcmVzZXJ2ZXMEY2NvZGUDbW9zdHBvcHVsYXIEY3BvcwM1BHBvcwMyBHB0A2hvbWVfY29rZQRzZWMDeW5faGVhZGxpbmVfbGlzdARzbGsDd2hpdGVob3VzZWNv

What is of interest, at least for me, was the reader comments at the end of the article — IMO these reader responses are representative, or better yet, a commentary on the pervasive lack of understanding of the energy/oil situation.

Below is a quote from J. Robinson West, Chairman of PFC Energy, testifying before the US Senate, 9/21/05.

"Welcome to the Age of Energy Insecurity. Worldwide production will peak. The result will be skyrocketing prices, with a huge, sustained economic shock. Jobs will be lost. Key sectors of the economy, from agriculture to home building, will be hit hard. Without action, the crisis will certainly bring energy rivalries, if not energy wars. Vast wealth will be shifted, probably away from the U.S....

...We must confront the issue of demand, primarily in the U.S. and Asia. Politicians in the U.S., from both sides of the aisle and both ends of Pennsylvania Avenue, are loathe to come between Americans and their cars - part status symbol, part toy, part necessity. Solutions must be found, but if the wrong solutions are proposed, the economy as a whole and the suburban economic model in particular - the basis of the American consumers' wealth - will come to a screeching halt."

sharonsj

Yes, the problem is that people don't understand. The oil and gas companies are under no obligation to sell us our own resources. Most of Alaska's oil is sold to Japan. And if we forced them to sell it to us, the conservatives would scream it was Socialism.

x


Actually 0 barrels have been exported to japan over the past 6 years.
http://www.eia.gov/dnav/pet/pet_move_expc_a_EPC0_EEX_mbblpd_a.htm


Falstaff

"Figure 1: US Oil production has been declining since 1970"

Sigh. No.
http://www.eia.gov/emeu/steo/pub/gifs/Fig13.gif

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