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Running on empty.(The Realist)(oil supply)

The National Interest

| May 01, 2008 | West, J. Robinson | COPYRIGHT 2008 The National Interest, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SOUND BITES and sloganeering just won't cut it anymore. Energy security--defined as reliable supplies at reasonable cost obtained in an environmentally sustainable manner--is no longer assured. All the presidential candidates loudly proclaim that they will reduce our dependence on foreign oil and, as a bonus, curb carbon emissions. Yet these same politicians, for the most part, have overlooked a serious problem. In so doing, they risk missing an important opportunity.

We are on the verge of an oil-production crunch--in which the growth in the global demand for oil will outpace supply. This is expected to occur, if present trends continue, after 2012.

It ...

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