Oil and war – Had enough yet?
Oil prices further primed to explode?
“We are asleep at the wheel here: choosing to ignore a threat to the global economy that is quite as bad as the credit crunch, quite possibly worse,” states Jeremy Leggett, convenor of the UK Industry Taskforce on Peak Oil and Energy Security regarding a number of WikiLeaks that suggest Saudi Arabian oil reserves have been overstated by some 40 percent.
According to the leaks, Saudi Arabia could be on the threshold of peak oil.
I’m a broken record on this issue. Declare war on foreign oil dependence has been my mantra for years, and these WikiLeaks only seem to further validate the need for a new energy direction. So, I’ll just leave at that, as I know there is no gas in the tank for a united war on foreign oil in the US these days. A war on foreign oil would require political compromise – a completely un-American notion these days.
Anyway, for more information on the WikiLeak’s possibility of a Saudi Arabian peak oil, check out the Guardian.