Wednesday, May 21, 2008

CNBC uses the dreaded "R" word...

...Rationing.

Hirsch on CNBC: Peak oil problem "as massive as one can possibly imagine."
Posted by Super G on May 20, 2008 - 12:21pm
Topic: Supply/Production
Tags: hirsch report, peak oil media, robert hirsch [list all tags]

Robert Hirsch, author of Peaking of World Oil Production: Impacts, Mitigation, and Risk Management (a.k.a. the Hirsch Report), appeared on CNBC this morning. He said flat out that new technologies and new drilling won't solve the peak oil problem, and that we should expect $12-15/gallon gasoline followed by rationing.

Unfortunately, the sound card on my computer died a long time ago, so I can't listen to the interview myself. There is, however, an excerpt transcripted and posted in this article below the video box which I presume is accurate.

The discussion that follows is interesting. I am amazed at many persons posting seem to think it's perfectly ok to price human beings out of the ability to buy food.

I shouldn't be, though. I shouldn't be surprised at anything people are willing to do to each other anymore to make sure they have things their own way, even at the expense of the many.

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