Still enjoying your SUV? (Vicky, this includes you.)
Frightening news broke this weekend when a (buring) Bush advisor, Matthiew Simmons, said, "There is a big chance that Saudi Arabia actually peaked production in 1981. We have no reliable data. Our data collection system for oil is rubbish. I suspect that if we had, we would find that we are over-producing in most of our major fields and that we should be throttling back. We may have passed that point."
Check out these links. There's a lot to this story that you need to read.
What does this mean? First, it means that oil production could peak as soon as 2013, far earlier than the previous prediction of 2037. with production declining as little as 3% each year thereafter.
We're talking about oil passing $100/barrel within this decade. At about $50/barrel presently, this means we could see $5/gallon at the pump - or more. This could easily trigger global economic catastrophe and the end of things as we know them. Consider how dependent we are on oil, not just for transportation but for production, farming, and more.
Now, this is coming from a (burning) Bush advisor, the same people who told us there were WMDs. But I think that when these oil-hungry bastards advise caution, we should listen. Maybe it's time we all considered driving less, getting a Hybrid vehicle at the very least, and bracing ourselves for hard times to come.