www.csua.org/u/sit -> news.yahoo.com/s/yblog_thelookout/20110209/ts_yblog_thelookout/wikileaks-saudis-running-out-of-oil
published by The Guardian should give pause to every suburban SUV-driver: US officials think Saudi Arabia is overpromising on its capacity to supply oil to a fuel-thirsty world. That sets up a scenario, the documents show, whereby the Saudis could dramatically underdeliver on output by as soon as next year, sending fuel prices soaring. The cables detail a meeting between a US diplomat and Sadad al-Husseini, a geologist and former head of exploration for Saudi oil monopoly Aramco, in November 2007. Husseini also indicated that Saudi producers are likely to hit "peak oil" -- the point at which global output hit its high mark -- as early as 2012. That means, in essence, that it will be all downhill from there for the enormous Saudi oil industry. "According to al-Husseini, the crux of the issue is twofold. First, it is possible that Saudi reserves are not as bountiful as sometimes described, and the timeline for their production not as unrestrained as Aramco and energy optimists would like to portray," one of the cables reads. "While al-Husseini fundamentally contradicts the Aramco company line, he is no doomsday theorist. His pedigree, experience and outlook demand that his predictions be thoughtfully considered."
Solar, Wind, and hydroelectric power may not be the most relieable energy sources, but they are cheap and renewable, so we do not have to worry too much about the future.
Except build cars, which can run with non renobable fuels. A lot of nations, are already looking into the new electric run cars, or other source of energy. "Forgive them father, since They do not know what is comming".
The most generous estimates put the total oil in the ANWR at about 10,000,000,000 barrels. It will be expensive to get above ground and expensive to transport. BUT even if it ALL was magically in tanks at Texas refineries it would only be enough to feed demand for about 18 months... That is low quality crude which is extremely difficult to extract and refine, absolutely nothing like the light sweet crude of Okla. Gasoline made from oil shale would be horrifically expensive. We are oil junkies, we need to quit thinking about where we will get our next fix, and start thinking about lowering consumption and getting rid of our habit...
Report Abuse If this isn't correct on the timing one would think they are not far off when the remaining oil will be in demand by India, China and the USA. This explains why the Bush Administration was pushing corn based fuels and now Obama is pushing electric cars.
Report Abuse Cheap energy is the only thing holding the global economy together. Once energy prices start going up, just watch the "superpowers" scramble and jump higher and higher.
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