Wednesday, May 05, 2004

Energy



it seems to me that there is a growing interest in the ramifications of the industrialized world's dependence on oil. maybe we aren't sleep-walking into the future.

Fossil-Fuel Dependency: Do oil reserves foretell bleak future?

Gasoline prices have reached their highest mark ever in the United States -- just as oil giant Royal Dutch/Shell has slashed its petroleum reserve estimates by 20 percent, after a monumental accounting scandal. While soaring prices at the pump have the public worried about another 1970s-style oil crisis, waiting in line might ultimately be the least of our concerns. An increasing number of prominent petroleum geologists -- including many former oil company employees -- have warned that official estimates of available global oil reserves are dangerously exaggerated.

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