Re: SC29

http://www.insidefutures.com/articles/article.php?id=2375

Oil Armageddon!

...............Now if you think I am starting a panic, maybe I should, because it is not just me saying we are doomed, but the director of the International Energy Agency, Claude Mandil, himself. At a press conference after the release of The International Energy Agency's 2006 World Energy Outlook, Mr. Mandil warned that our energy future is not only unsustainable but is doomed to failure! Mr. Mandil also said, "On current trends we are on a course for an expensive and dirty energy system that will go from crisis to crisis which can cause more supply disruptions, meteorological disasters or both. That may mean skyrocketing prices and more frequent blackouts. This energy future is not only unsustainable, but it is doomed to failure." That's right, like he said, we're doomed to failure. Not only will we use too much energy but also because oil, coal and natural gas will remain the dominant fuel, we will totally damage the environment in the process...............

....................The International Energy Agency warned in its report that oil demand from the developing world will rise by 70%. According to their report, demand will go up from the 2005 level of 84 million barrels of oil a day to 99 million barrels of oil per day by 2015 and 116 million barrels of oil a day by 2030. This, as the IEA warns, is an unsustainable path. They also warn that the natural gas, coal and other fossil fuels will rise. In fact, the IEA says that to even come close to meeting these demand expectations it will take a cumulative investment of $20 trillion dollars over the next 25 years.

Now, at the same time, demand rising developing countries are slated to increase their share of carbon dioxide emissions from 39 percent in 2004 to 50% by 2030..............