Tuesday, July 12, 2005

Acknowledging reality

From the Kos diaries, Jerome a Paris points out a noteworthy development:
The world consumes two barrels of oil for every barrel discovered. So is this something you should be worried about?

The fact is, the world's been finding less oil than it has been using for twenty years now. Not only has demand been soaring, but the oil we've bben finding comes from places that are tough to reach.

Inaction is not an option.

The above content isn't news. But amazingly, the source is Chevron, the second-largest US oil company.

Jerome speculates that this may be a tipping point on oil consumption - when even oil producers are spreading this message, how can it not be acted upon? I'd hope it's that as well, though I worry it's more a cynical means of justifying higher prices in the meantime (or maybe a new round of attack on ANWR).

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