Peak Oil May Sprout Space Program-size Funding, Article Posted on TwinTrader.com
Dallas, TX -- (ReleaseWire) -- 07/21/2008 -- TwinTrader.com announces the publication of ‘Peak Oil May Sprout “Space Program-size” Funding’
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Peak Oil May Sprout “Space Program-size” Funding
”The hope of oil retreating back to the $30 level has since been shattered as fantastic and naïve wishful thinking. Steve Forbe’s prediction last year of $30 oil has proven to be way off the mark. Many other “well-informed” pundits of the “peak oil” theory have turned mute, recently, and for very good reasons. It appears that the peak oil theorists are winning the debate this year, not with mere talking points, but with hard price and inventory levels data reported each day, and each week in the case of oil inventories...
”While President Bush and the reluctant congress fight over the lifting of the ban on Outer Continental Shelf (OCS) drilling, more valuable time is wasted in providing a sensible energy policy for our nation. Lifting the executive prohibitions of drilling in the OCS will not solve the problem anyway, according to ex-energy advisor to George W. Bush, Matt Simmons. And according to Simmons, the oil there is not enough and the time required extracting the oil is too far into the future to make any meaningful difference to the price of energy...
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