GAO: US “especially vulnerable” to oil supply shocks
US government report issued March 29 (pdf HERE) discusses “uncertainty about future oil supply” and need to “develop a strategy for addressing a peak and decline in oil production”
The report asserts, “Most studies estimate that oil production will peak sometime between now and 2040.”
That’s a wide range. But the date of peak oil is not the most important issue, though I do personally believe it’s a lot closer to “now” than “2040″. Whatever, this official government report should be a real wake-up call. There is a lot of potential for oil shock and disruption in a “vulnerable” America. And it could happen at any time.
Here’s a worthwhile 7-1/2-minute Matt Simmons interview on the topic:
And there is a bunch more at The Oil Drum, HERE.