oil (Page 13)

Around the world, geologists are noticing that old, dry oil wells are mysteriously filling back up. New oil is also being discovered in fields where it previously hasn?t existed.

Mahlon Kennicutt of Texas A&M University thinks the new oil is surging upward from deposits deep below the ones currently being used. “Very light oil and gas were being injected from below, even as the producing was going on,” he says. This suggests there?s much more oil available than we thought.
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Global supplies of crude oil will peak as early as 2010 and then start to decline, ushering in an era of soaring energy prices and economic upheaval, according to an international group of oil specialists. They hope to persuade oil-dependent countries like the United States to stop wasting the Earth’s limited amount of fossil fuel. Americans, as the biggest consumers of energy, could suffer a particularly harsh lowering of their lifestyle.

“There is no factual data to support the general sense that the world will be awash in cheap oil forever,” says Matthew Simmons, an investment banker who helped advise President Bush’s campaign on energy policy. “We desperately need to find a new form of energy.”
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In the book ”Bin Laden, la verite interdite” (”Bin Laden, the forbidden truth”), just published in France, the authors Jean-Charles Brisard and Guillaume Dasquie reveal that early in his administration, George W. Bush was pressured by oil companies to stop investigations into terrorism.

Brisard and Dasquie have long experience in intelligence analysis. Until the late 1990s, Brisard was director of economic analysis and strategy for the French company Vivendi. He also worked for French secret services, and in 1997 he wrote a report on the al-Qaeda network. Dasquie is an investigative journalist and publisher of Intelligence Online, a respected internet newsletter on diplomacy, economic analysis and strategy.
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