By Michael C. Ruppert
Michael Ruppert addresses a few uncomplicated yet extensively neglected thoughts when it comes to the serious function of oil and gasoline within the smooth international. First, they're finite assets, shaped within the geological earlier, for that reason topic to depletion. moment, they must be stumbled on sooner than they are often produced. He then is going directly to deal with 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 an understatement: the higher the know-how, the quicker the depletion. The booklet then turns to similar matters, together with overseas coverage and the invasion of Iraq, the hopes for renewable strength substitutes, the effect on farming and inhabitants, and the character of cash. The effect at the economic climate is a valuable subject matter of the e-book. It supplies emphasis to the U.S. scenario but additionally covers the broader global, finishing with twenty-five brilliant techniques through which the us executive might react to the unfolding state of affairs.
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But is that what the American worker needs? We will come back to this later. There are two kinds of reserve estimates that have helped to drive us deeper into the current crisis. ” Discovery Estimates are those numbers announced when a new oil field is discovered, after the first series of test wells is drilled. Recent examples of how misleading these announcements of recent “major discoveries” show how corporations and corporateowned media have been misleading the public. In April of 2008 the mainstream media from Yahoo to CNN trumpeted the announcement that based upon one test well in the Carioca field in the deepwater Santos Basin off Brazil’s coast, there might be 33 billion barrels of oil in the field.
Remember that under the current economic paradigm the four to seven-year development clock doesn’t start until the oil price becomes profitable. In the meantime all the other big reservoirs are declining at an accelerating pace. The gaps between our energy visions and energy realities are widening. 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.
In an April 14 story, entitled “Brazil’s Petrobras denies giant oil field discovery,” the Chinese news agency Xinhuanet wrote: RIO DE JANEIRO, April 14 (Xinhua) -- Brazil's state-owned oil company Petrobras denied Monday an earlier announcement of the discovery of a gigantic oil and gas field in southeastern Brazil. • The salt layer of the second well drilled in block BMS-9 of the announced oil field has not even been reached yet, and the huge field, if it does exist, lies below the salt layer, the company said in a statement.
A Presidential Energy Policy by Michael C. Ruppert