Friday, January 7, 2011

A Pessimist versus an Optimist on the State of Energy

Is our energy supply really in trouble or not?  Five years ago a Malthusian pessimist and a Cornucopian optimist bet on the future of oil supplies and the results came in on January 1st.  Even though oil prices didn't skyrocket in time for Matthew R. Simmons to win a bet are his predictions coming true now? Or will their always be abundant energy resources like John Tierney predicted? Former Shell Oil president Jon Hofmeister, has predicted that we will be paying $5 per gallon of gas at the pump by 2012.  I really hope that his prediction is wrong.  Of course Obama's ban on off shore drilling hasn't helped our energy situation one bit.  Before reading the article, I didn't know that the oil sands project in Canada is delivering more oil to us than Saudi Arabia.  That is an interesting fact to know.  While we're working towards being energy independent I'd much rather rely on Canada for oil then any country in the Middle East or Venezuela, who are our enemies. I hope that the GOP puts forth common sense solutions for energy independence and that they can stop the implementation of the economy crippling Cap & Trade policies. 

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