CNN Special On Oil Crisis Tomorrow (3/18) - "We Were Warned"

[hatrack]

Just FYI - got this off the ASPO website - don't know if it'll be any good, but potentially interesting.

http://www.cnn.com/CNN/Programs/presents/

[phantom power]

1. They seem to be focusing on supply disruptions...

I wonder if they'll address the topic of the supply itself running out?

[Yavin4]

2. WE WERE WARNED BY JIMMY CARTER IN THE 70's!!!!

For crying out loud.

[megatherium]

3. Yes, in his famous speech declaring that the energy crisis

was the "moral equivalent of war." I've read that industry people refer to that as the MEOW speech.

In the 1970s, experts said the oil supply was actually not close to the edge. They believed that oil production wouldn't peak for perhaps 30 years, thus in the first decade of the new century. Carter's concern was less the global supply of energy and more US energy independence: he understood that as a nation we are vulnerable to the extent we rely on petroleum from unstable or hostile countries. Carter's synfuels initiative collapsed when Reagan became president, because the price of energy collapsed. (The S&L crisis in the 1980s was largely the result of the depression in the energy industry.)

Now of course, we find ourselves in a much graver situation: the global energy supply is in danger; the predictions of the 1970s for peak oil in this decade appear to be correct.