could entirely disappear by 2012, and by 2015 the shortfall in barrels could reach 10 million oil barrels per day! It is uncertain what economic, political and social impacts this may result in but it's important to consider switching to alternatives. This is a perfect example of demand exceeding supply and it is a scary thought. This will have major negative impacts on both developing and developed nations. The question is, where do we turn?
Sunday, April 3, 2011
America's Growing Problem: Shrinking Supplies of Crude Oil
http://http://www.guardian.co.uk/business/2010/apr/11/peak-oil-production-supply The US military is concerned about the supply of crude oil. By 2015, they are suspecting serious shortages that have extreme political and economic impact. The price per barrel is expected to go up to $100 dollars very shortly. According to General James N Mattis, the surplus oil production capacity 
could entirely disappear by 2012, and by 2015 the shortfall in barrels could reach 10 million oil barrels per day! It is uncertain what economic, political and social impacts this may result in but it's important to consider switching to alternatives. This is a perfect example of demand exceeding supply and it is a scary thought. This will have major negative impacts on both developing and developed nations. The question is, where do we turn?
could entirely disappear by 2012, and by 2015 the shortfall in barrels could reach 10 million oil barrels per day! It is uncertain what economic, political and social impacts this may result in but it's important to consider switching to alternatives. This is a perfect example of demand exceeding supply and it is a scary thought. This will have major negative impacts on both developing and developed nations. The question is, where do we turn?
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I honestly think about this problem every day that I pass a gas station. It really scares me to think that eventually gas is going to get up to a price that everyone will not be able to purchase it. I wish we lived in a place where things were close enough so that we could walk or atleast ride a bike, but we can't change that. I just hope that something good happens with our gas problem very soon!
ReplyDeleteThis is a very serious issue. I agree with what Kelsey about the fact gas will eventually go up to a price where most people will not be able to buy it. I think we need to find other alternatives for transportation. For example the electric cars that are beginning to be made. I think that we should continue to create things like this and should find something that can eventually replace gasoline all together.
ReplyDeleteThis is something I don't like to hear. I'm with everyone who says that can't stand going to get gas because it costs so much. I personally think its a hige problem, when it shouldn't be, and it needs to be taken care of. Oil is something we have to have and even though we are doing things to cut back and conserve, something should still be done.
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