Hello U.S. media? Why exactly am I reading this story because of a link on Buzzflash to a blog that quotes a British newspaper?:
The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a significant economic and political impact.
The energy crisis outlined in a Joint Operating Environment report from the US Joint Forces Command, comes as the price of petrol in Britain reaches record levels and the cost of crude is predicted to soon top $100 a barrel.
“By 2012, surplus oil production capacity could entirely disappear, and as early as 2015, the shortfall in output could reach nearly 10 million barrels per day,” says the report, which has a foreword by a senior commander, General James N Mattis.
It adds: “While it is difficult to predict precisely what economic, political, and strategic effects such a shortfall might produce, it surely would reduce the prospects for growth (emphasis mine) in both the developing and developed worlds.
They are still concerned about growth? Talk about epic delusional understatement, survival might be the more relevant consideration. But hey, what me worry, think I’ll just drive over to the nearest java infusion station and read the local paper so I can learn which hunky guy is misbehaving with which starlet, but first I’m going to send some money to support independent media and you should too. Gotta have your priorities.