Friday, September 09, 2005

Peak Oil and Katrina

An excerpt:

Already, European editorial writers and columnists are starting to grumble. They raise the specter of Americans in Hummers, gobbling up Europe 's heating oil for next winter. The head of the IEA warned that there will be a worldwide energy crisis if the US tries to replace its missing oil production and gasoline refining by outbidding everyone else on the world market. As usual, it is the poor African nations that will suffer the most. Furthermore, it is becoming evident that $3-4 gasoline does not significantly reduce American consumption and that we will continue driving at our normal pace until stopped by still higher prices or general shortages.


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