From: Chella Rajan <crajan-AT-tellus.org>
Subject: RE: Not your usual conspiracy theory
Date: Fri, 26 Oct 2001 10:17:51 -0400


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 < In fact, the world probably has more oil than it knows what to do with,
and most of it is NOT in the Middle East.  Incidentally, have you been
paying more or less for gas recently? >
 
I'm sorry, but this is hogwash, particularly in the US context.  The US has
20 billion barrels of oil reserves, but burns around 20 million a day,
meaning if it were completely cut off from imports, it would use up
everything it has in less than 3 years.  Undiscovered but economical
resources in the US amount to another 10 or 15 billion barrels, or so it is
estimated by the US Geological Service.
 
Five countries, Saudi Arabia, Iraq, UAE, Kuwait and Iran (in that order)
account for nearly 70% of the world's oil reserves (http://.  Energy prices
are fickle because energy economics are complex.  And for darker views of
the oil situation, suggesting all the ways in which things could go wrong,
see http://www.dieoff.org <http://www.dieoff.org> ; http://www.oilcrisis.com
<http://www.oilcrisis.com>  ; or
http://www.brookings.edu/views/papers/perry/20011024.htm
<http://www.brookings.edu/views/papers/perry/20011024.htm> 
 
Chella

HTML VERSION:

 < In fact, the world probably has more oil than it knows what to do with, and most of it is NOT in the Middle East.  Incidentally, have you been paying more or less for gas recently? >

 

I'm sorry, but this is hogwash, particularly in the US context.  The US has 20 billion barrels of oil reserves, but burns around 20 million a day, meaning if it were completely cut off from imports, it would use up everything it has in less than 3 years.  Undiscovered but economical resources in the US amount to another 10 or 15 billion barrels, or so it is estimated by the US Geological Service.

 

Five countries, Saudi Arabia, Iraq, UAE, Kuwait and Iran (in that order) account for nearly 70% of the world's oil reserves (http://.  Energy prices are fickle because energy economics are complex.  And for darker views of the oil situation, suggesting all the ways in which things could go wrong, see http://www.dieoff.org; http://www.oilcrisis.com ; or http://www.brookings.edu/views/papers/perry/20011024.htm

 

Chella