Greenspan sounds alarm on oil supply

"The balance of world oil supply and demand has become so precarious that even small acts of sabotage or local insurrection have a significant impact on oil prices," he said, adding that global refining capacity was still too limited.

www.iht.com...

I find it currious that this was also squashed by the Zarqawi news.

Peak oil is here.

its real but it's fake. There is still alot of oil to be had in the world. Perhaps we'll see full militarization of north america for the control of it soon.

Originally posted by Crazy_Mr_Crowley
its real but it's fake. There is still alot of oil to be had in the world.

Read it again:

"The balance of world oil supply and demand has become so precarious that even small acts of sabotage or local insurrection have a significant impact on oil prices," he said, adding that global refining capacity was still too limited.

You could have 3000 years worth of Oil left in in the world, but if yuu cannot refine enough of it, then you still have a problem.

What Greenspan is saying is that because refining capacity is limited, small acts of sabotage/insurrection, say in Nigeria or Saudi can serioucly impact supply and therefore the price, of refined Oil.

It's being allowed to happen this way. The auto industry has been suppressing water vapourization engine designs and blue prints for over 30 years now. Henry Ford himself even drew attention to Hemp and vegtable oil at the turn of the century. Technologocially we could have been many years in advance of what we are now if only we weren't being beaten down sort of speak.