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Wednesday, May 28, 2008

Wall Street Journal Article On World Oil Supplies

Want to scare yourself? Here's a Wall Street Journal article about world oil supplies that should do the trick.

As Carole Richardson in our office pointed out, there are some interesting items in this article:

- Just a few years ago, the “Peak Oil” concept was dismissed by the oil industry as a wing-nut theory, but there are a growing number of people in the industry who are embracing the theory now.

- The US Energy Department is doing their own study of world oil supply. The article says they should be done this summer. I'm curious to see if their study will corroborate what this article says.

So what's your opinion? Is this a scare tactic on the part of the International Energy Agency or do you believe it's true, Future crude supplies could be far tighter than previously thought? Or, is the truth somewhere in the middle?

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Kootenai Metropolitan Planning Organization (KMPO) is the Metropolitan Planning Organization for Kootenai County, Idaho. Federal law requires urbanized areas with populations exceeding 50,000 people to have an MPO. KMPO was formed in 2003, to provide coordinated transportation planning within Kootenai county for the public, cities, small towns, the county, the state, transit providers, and the Coeur d'Alene tribe.

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