I may have mispoken… US military NOT predicting ‘peak oil’

It seems they are predicting supply shortages, but as the indefatigable Energy Bulletin points out…

The headline conclusions of the analysis are that “by 2012 surplus oil production capacity could entirely disappear and as early as 2015, the shortfall could reach 10 million b/d.” The report does not see the looming problem as lack of adequate petroleum reserves, but rather a shortage of drilling platforms, engineers, and refining capacity. The authors seem to miss the problems of depletion, which is removing 4 million b/d of production capacity from the world’s oil output each year, or the nationalism which is hampering oil output around the world, or the extremely high costs of developing deepwater oil fields.

via Peak oil review – Mar 19 | Energy Bulletin.

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One Response to I may have mispoken… US military NOT predicting ‘peak oil’

  1. Pingback: US Military *shrill* on peak oil « Eclipse Now

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