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