Monday, May 20, 2013
Is the Oil Crisis Solved?
As reported on NPR, the International Energy Agency recently announced that American oil production is transforming the global market. AP in an article published in the Tallahassee Democrat highlighting the IEA report states: "The threat of chronic oil shortages is all but gone, . . ." Nowhere in this and other articles reviewed in a variety of publications does it mention the damage to the environment by extraction fracking, nor the Peak Oil problem. See also the Time article on what this means for global climate policy. And certainly not everyone agrees that the oil problem has been solved. Oil scarcity may be delayed briefly, but it is inevitable. This report and the spin by the oil industry and news agencies will only encourage our oil-hungry population to continue wasting this non-renewable resource. Oil descent is indeed on a slippery slope.