Updated: 3/3/2004; 11:02:23 PM.
graham glass: what's next?
        

Tuesday, February 24, 2004

more worrying news about an impending oil crisis:

http://www.nytimes.com/2004/02/24/business/24OIL.html?ei=5062&;en=bc7d7425bb64c8cd&ex=1078203600&partner=GOOGLE&pagewanted=print&position=

"Energy forecasts call for Saudi Arabia to almost double its output in the next decade and after. Oil executives and government officials in the United States and Saudi Arabia, however, say capacity will probably stall near current levels, potentially creating a significant gap in the global energy supply.

"We don't see us as the ones making sure the oil is there for the rest of the world," one senior executive said in an interview. A Saudi Aramco official cautioned that even the attempt to get up to 12 million barrels a day would "wreak havoc within a decade," by causing damage to the oil fields.


12:33:37 AM    comment []

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