The International Energy Agency (IEA), an energy adviser to 26 wealthy countries, is worried. Will there be enough oil? Can we maintain a reasonably good economy over the long haul? What are we doing to the environment?
In its annual report, the agency feels that we are overly dependent on the Middle East. "95% of the world relies for its economic well-being on five or six countries in the Middle East." They're concerned that the governments there may restrain production in an attempt for even higher prices. 17 of the 20 cutoffs of the oil supply over the past thirty years have been in the Middle East.
Supply is not their only concern. Concern for the environment from carbon emissions has caused the agency to call for greater use of renewable resources and nuclear power.
Not a pleasant prospect.
1 comment:
Which is why, I believe, Bush & Co are in Iraq right now. They may not give a fig for the environment, but controlling the Middle East oil fields has to be their great ambition. I might even be cynical enough to suggest they intend to achieve their objective in partnership with Israel.
Post a Comment