Monday, July 03, 2006

Clinton on Peak Oil

The Georgia Straight has an article talking about a speech former President Clinton gave to the
Association of Alternative Newsweeklies.
The highlights are:
Former U.S. president Bill Clinton has urged newspaper editors to focus more attention on the depletion of the world’s oil reserves. Clinton said a “significant number of petroleum geologists” have warned that the world could be nearing the peak in oil production.
Clinton suggested that at current consumption rates the world could be out of “recoverable oil” in 35 to 50 years, elevating the risk of “resource-based wars of all kinds”.
He added that "everybody I know who knows anything about this business believes it’ll be $100 a barrel in five years or less".

So Clinton is on board. Hopefully that means that Hillary is also well-versed on this topic, and if she runs for the Democratic Nomination for 2008, maybe peak-oil will be a big topic at the Democratic Convention and will carry on into the next presidential election.

P.S. oil today is around $73.00 a barrel, and prices at the gas pump in the GTA are around $1.05. At $100.00 a barrel that puts gas prices at about $1.45.

No comments: