Friday, April 16, 2010
US military: Serious oil shortage by 2015 !
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 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.
Shell estimates that after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand.
"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.
Shell estimates that after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand.
THIS LINK posted by Joseph Bell : 11:24 AM
