[Ok-sus] ASPO USA urges Energy Dept to confront the risks of oil crisis

Bob Waldrop bob at bobwaldrop.net
Tue Oct 9 16:10:19 CDT 2012

Posted by Bob Waldrop, Oklahoma City

Press Release link

Full text of the letter is at --*http://tinyurl.com/8mbjvxq*

October 9, 2012
Jan Lars Mueller, jmueller at aspousa.org, (202) 470-4809 x 3
Jim Baldauf, jbaldauf at aspousa.org, (512) 517-2663

*ASPO-USA Urges Energy Department to Confront Risks of Oil Crisis*
Representatives of the Association for the Study of Peak Oil & Gas USA 
(ASPO-USA) are urging the U.S. Department of Energy (DOE)---including 
its data and analysis branch, the Energy Information Administration 
(EIA)---to fully recognize the risks facing U.S. oil supply and the 
threat of a near-term oil crisis. ASPO-USA is calling for DOE and EIA to 
critically examine these risks and properly inform decision-makers and 
the public about the consequences for the economy, national security, 
and the environment.
*Exuberant Forecasts for Increased Oil Production in North America Based 
on Misrepresentation of Data*
In a letter 
to Energy Secretary Steven Chu and EIA Administrator Adam Sieminski, 
ASPO-USA said that DOE and EIA must maintain an independent, unbiased, 
and prudent perspective amidst a barrage of industry and media hype 
about a new era of oil abundance. The letter points to overly optimistic 
forecasts from industry and media sources for increased oil production 
in North America and cites evidence that such claims are overstated and 
based on misrepresentation of the data. "They confuse oil in the ground 
with actual supply delivered to the market, they overstate the potential 
of technology, and understate the increasing cost and difficulty of 
extracting new oil," said Jim Baldauf, ASPO-USA president and co-founder.
*Tightening Competition for Global Oil Exports Increases Risks for 
Near-Term Oil Crisis*
The letter goes on to highlight that the United States remains very 
dependent on imported oil. Competition for oil exports on the global 
market is rapidly increasing, however, as demand in emerging economies 
grows and oil-exporting countries increase their domestic consumption. 
"Since 2005, China and India have consumed an increasing share of a 
declining volume of oil exports," noted Jeffrey Brown, ASPO-USA 
vice-president and an independent geologist who tracks oil export 
trends. "If we extrapolate current trends, China and India alone would 
consume 100% of global net oil exports by 2030," Brown added.
"We have to face the reality that more drilling at home will not 
significantly address our vulnerability to a global oil supply crisis," 
said ASPO-USA Executive Director Jan Lars Mueller, "a dramatic reduction 
in national oil consumption is a wiser and cheaper path to energy 
security and oil 'independence'."
/The Association for the Study of Peak Oil & Gas USA is non-profit, 
non-partisan research and education organization dedicated to helping 
America understand and adapt to a new energy reality, where oil is 
becoming increasingly more costly and difficult to extract from the 
Earth, and oil supply may not meet soaring global demand. 

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