US military warns oil output may dip causing massive shortages by 2015 Terry Macalister, Guardian The US military has warned that surplus oil production capacity could disappear within two years and there could be massive shortages by 2015 with significant economic and political impact.
The energy crisis outlined in a Joint Operating Environment report from the US Joint Forces Command, comes as the price of petrol in Britain reaches record levels and the cost of crude is predicted to soon top $100 a barrel.
... The warning is the latest in a series from around the world that has turned Peak Oil – the moment when demand exceeds supply – from a far off threat to a near-time risk.
... there are signs that the US Department of Energy might also be changing its stance on Peak Oil. In a recent interview with French newspaper, Le Monde, Glen Sweetnam, main oil adviser to the Obama administration, admitted that "a chance exists that we may experience a decline" of world liquid fuels production between 2011 and 2015 if the investment was not forthcoming.
Lionel Badel, a post-graduate student at Kings College, London, who has been researching Peak Oil theories, said the review by the American military moves the debate on.
"It's surprising to see that the US Army, unlike the US Department of Energy, publicly warns of major oil shortages in the near-term. Now it could be interesting to know on which study the information is based on," he said.
"The Energy Information Administration (of the department of energy) has been saying for years that Peak Oil was "decades away". In light of the report from the US Joint Forces Command, is the EIA still confident of its previous highly optimistic conclusions?" (11 April 2010) We covered this story first: Joint Operating Environment 2010: Oil Supply Concerns (review) by Rick Munroe on March 11.
Washington considers a decline of world oil production as of 2011 (mentioned in the Guardian story above) by French journalist and EB ally Matthieu Auzanneau, March 25).
The Pentagon also expects an imminent oil shock also by Matthieu Auzanneau (Apr 7)
The US mainstream media still hasn't picked it up.