The U.S. lives in an energy trap. We fell into it gladly, dug it deeper and sit fat and happy, with blinders on. We're fed daily meals of imported oil, from countries we pay in IOUs and think we can push around. But now we're starting to see the costs and risks of our dependency—and I don't only mean gasoline averaging $2.74 a gallon at the pump.
For years to come, we'll be in the hands of some of the most dysfunctional governments in the world. Oil prices will rise and economic growth will slow—not this year, but almost certainly a few years out. We'll be paying in both treasure and blood, as we fight and parley to keep ever-tighter supplies of world oil flowing our way.
What has changed in the world? We're running out of the capacity to produce surpluses of oil. Demand for crude is expected to rise much faster than new supplies. Developing nations, such as China and India, are glugging barrels at astounding rates. Meanwhile, most producer nations can't find enough new oil, or drill out more from their reserves, to replace what we're using up. Production from most of the large, older fields is in irreversible decline. [Emphasis added]
This ain't commondreams.org or the Sierra Club web site...it's Newsweek. It's not like she soft-peddles it either:
On paper, we have alternatives, such as liquefied coal, oil sands from Canada and ethanol. But they're not anywhere close to production on a massive scale. For a smooth transition, mega-energy projects need to get started at least 20 years before oil supplies decline, writes Robert Hirsch of the consulting firm SAIC in a study prepared for the U.S. Department of Energy. If we don't get a running start on the problem, he says, "the economic consequences will be dire." We're probably already behind. It takes leadership to address a potential crisis in advance.
Unfortunately, we're investing in war, not in crash projects to develop new energy sources. Maybe there's time to spare. But some events, like true civil war and collapse in Iraq, could change everything in a day. We're running a faith-based energy policy—still addicted to oil. If something goes wrong, it will go wrong big.
So, it seems like word is getting around.