Energy Department No Longer Measuring Oil Supply in "Oil", Using "Liquids" Instead to Inflate Numbers

News Type: Event — Seeded on Fri Oct 26, 2007 8:03 PM EDT

Article Source: The Nation

us-news, oil, energy, peak-oil, energy-department

This past May, in an unheralded and almost unnoticed move, the Energy Department signaled a fundamental, near epochal shift in US and indeed world history: we are nearing the end of the Petroleum Age and have entered the Age of Insufficiency. The department stopped talking about "oil" in its projections of future petroleum availability and began speaking of "liquids." The global output of "liquids," the department indicated, would rise from 84 million barrels of oil equivalent (mboe) per day in 2005 to a projected 117.7 mboe in 2030--barely enough to satisfy anticipated world demand of 117.6 mboe. Aside from suggesting the degree to which oil companies have ceased being mere suppliers of petroleum and are now purveyors of a wide variety of liquid products--including synthetic fuels derived from natural gas, corn, coal and other substances--this change hints at something more fundamental: we have entered a new era of intensified energy competition and growing reliance on the use of force to protect overseas sources of petroleum.

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{"commentId":1453354,"authorDomain":"atticusmullikin"}

Atticus Mullikin

Hello Mr. Pitysfools

Michael Klare is one of my favorite geopolitics writers. I interview him last November, and recently published a transcript of the interview on my column. I mentioned this article in Part III of the interview, in case you'd care to read it.

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#1 - Sat Feb 9, 2008 9:02 PM EST

{"commentId":1454344,"authorDomain":"the-pitytorium"}

TomPitysFools

Thanks for the link. I'll be sure to check it out later today.

{"commentId":1454344,"threadId":"216756","contentId":"1052740","authorDomain":"the-pitytorium"}

#1.1 - Sun Feb 10, 2008 9:19 AM EST

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Energy Department No Longer Measuring Oil Supply in "Oil", Using "Liquids" Instead to Inflate Numbers

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