Wednesday, October 21, 2009

From the "don't hold your breath" department...

Neither the Federal Government nor most US cities have been taking peak oil seriously, in spite of industry experts such as Matthew Simmons and oil executives plainly telling people to do so. What will it take, exactly, to get our communities to relocalize if they won't listen even to oil executives? I have no idea.

Reuters Online
U.S. needs gas tax, 50 mpg standard -Hess CEO
Tue Oct 20, 2009 12:22pm EDT

LONDON, Oct 20 (Reuters) - The U.S. needs to levy high taxes on gasoline and to require tougher automobile fuel efficiency standards to conserve energy, the chief executive of one of the country's biggest oil companies said on Tuesday.

John Hess, CEO of Hess Corp which pumps almost 400,000 barrels of oil and gas a day, said the world would face a "devastating" supply crunch in five to 10 years if it did not limit energy demand and boost supply.

"We need to have the courage to demand 50 miles per gallon fuel economy as the national standard for all vehicles," Hess told the Oil and Money conference in London.

"The targets we've talked about by the U.S. are way short of what they need to be," he added...

... Hess also advocated higher taxes on gasoline.

"A gasoline tax of $1 per gallon would boost conservation and help bring down the federal deficit," he said...

It would also cause Americans (5% of the world's population), who believe they have some sort of inherent right to continue to gobble up 40% of the world's natural resources (including oil), to have a collective apoplexy. How DARE anyone suggest they only use their fair share?

It's "non-negotiable," they claim.

But in a way, they're right - it isn't negotiable. In fact, if we don't reduce our usage voluntarily, the rest of the world is not going to negotiate at all, they're just going to keep what's theirs and not give it to us, for one thing. And for the other, well, if they don't accept dollars for oil, it's not likely we have anything that they will accept. So, no, there won't be any negotiation. Either we drastically reduce our use of petroleum or demand destruction due to inadequate supply and outrageous market prices will do it for us.

That's the non-negotiable reality.

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