What is Peak oil?
"The term Peak Oil refers to the maximum rate of the production of oil in any area under consideration, recognising that it is a finite natural resource, subject to depletion."
--Colin Campbell
US military warns oil output may dip causing massive shortages by 2015
Submitted by Mikael Höök on Mon, 2010-04-12 20:36.
The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a 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.
"By 2012, surplus oil production capacity could entirely disappear, and as early as 2015, the shortfall in output could reach nearly 10 million barrels per day," says the report, which has a foreword by a senior commander, General James N Mattis.
Read more: The Guardian
Read the US Military report: see below
| Attachment | Size | |
|---|---|---|
 | JOE2010.pdf | 3.12 MB |
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