Interview Congressman Roscoe Bartlett discusses Peak Oil

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http://www.energybulletin.net/5429.html

I believe Congressman Bartlett is to conservative with this estimates!! And I like the response that Americans MAY change their driving habits if gas hit $4.00 a gallon.. We are wasting time folks..


Colin Sullivan: Now, if we are on a decline, if we are past the peak, isn't it just more expensive to get this oil out of the ground? Isn't that part of the problem? And we're going to continue to see sustained oil prices beyond $50 a barrel.

Roscoe Bartlett: Yeah, Goldman Sachs says they're going to 105, and Americans may change their driving habits when gas is $4 a gallon. But the reality is that we will reach a peak. We may have reached a peak now. A lot of authorities believe that we've reached a peak now, but we will reach a peak, and then there will be a decline after that. It's not a matter of spending more money. Certainly, oil is going to cost more. But not only will it cost more, there's going to be less of it. And those who believe that the marketplace will take care of this problem, you know, and I have a lot of colleagues in the Congress who aren't worried about this at all. Not to worry, they say, the marketplace will take care of this. But I'll tell you, you can't get blood out of a turnip, and the marketplace can't do what can't be done, and the ability to produce oil just isn't there. And the present surge capacity in the world is what? A million, million-and-a-half barrels a day?

Roger Diwan: Probably. Around a million-and-a-half.

Roscoe Bartlett: That's about what it is. You know, China will slurp that up almost overnight with their increased demand for oil. If we're not at peak oil, we very shortly will be at peak oil. We ought to be behaving like the reality says we ought to behave, and that is that oil is going to become increasingly more expensive and decreasingly available. And what will the world do? What will the major countries in the world do when they recognize that there's not going to be as much oil there as needed to support our economy? What do you think the world will do?