By Michael C. Ruppert
Michael Ruppert addresses a few easy yet commonly neglected thoughts when it comes to the serious function of oil and fuel within the sleek international. First, they're finite assets, shaped within the geological earlier, accordingly topic to depletion. moment, they need to be stumbled on prior to they are often produced. He then is going directly to tackle the broader implications spotting that there's a finite Oil Age. Many claims were made that new expertise will counter the ordinary decline, yet there's a real understatement: the higher the expertise, the quicker the depletion. The e-book then turns to comparable topics, together with overseas coverage and the invasion of Iraq, the hopes for renewable power substitutes, the influence on farming and inhabitants, and the character of cash. The impression at the economic climate is a critical subject of the e-book. It provides emphasis to the U.S. state of affairs but additionally covers the broader global, finishing with twenty-five brilliant techniques in which the U.S. govt may perhaps react to the unfolding state of affairs.
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Extra info for A Presidential Energy Policy
As of this writing there have been no reports of any appraisal-well results. I’m certain that they are or will be drilled but how can one calculate approximate field size and make responsible announcements without them? Carioca is a deep-sea find and deep-sea platforms and wells are very expensive, sometimes $150 million or more each, to drill. The second, third, and fourth etc. wells haven’t come in yet. For days, all I could do was bang my head against the desk as many of my gullible friends told me that this was proof that Peak Oil wasn’t real.
No field even close to the size of Ghawar has been discovered since 1948. , the world’s largest energy investment bank, we need to find those three new Ghawars just to offset decline, let alone accommodate anticipated 20-30% growth in demand. Decline will prevent the planet from just getting back to its consumption levels of July 2008 and that is where Washington and Wall Street both fall flat on their face. If Ghawar is likened to an Olympic-sized swimming pool which holds approximately 600,000 gallons of water, the Arctic National Wildlife Refuge (ANWR) in Alaska, optimistically estimated by many to hold between five and 12 billion barrels of “recoverable” oil in widely scattered deposits is about the size of one average-sized backyard swimming pool holding 30,000 gallons – or 5% of Ghawar.
A PRESIDENTIAL ENERGY POLICY - 43 CHAPTER FOUR ENDNOTES 1. Interview with The Energy Bulletin, May 2, 2008. net/node/43604 2. “Shell Cuts Oil Reserves Again”; MS-NBC, March 18,2004; “Shell Reassesses Reserves Third Time”; Times of London, April 19, 2004. 3. Crossing the Rubicon: The Decline of the American Empire at the End of the Age of Oil by Michael C. 35) A PRESIDENTIAL ENERGY POLICY - 45 CHAPTER FIVE INFRASTRUCTURE AND THE GRID There are two basic kinds of infrastructure that an American President must be concerned with.
A Presidential Energy Policy by Michael C. Ruppert