Murdock

By Deepa Babington | February 15, 2005

HOUSTON (Reuters) - Asia's insatiable appetite for oil coupled with tight supplies has triggered the start of a global bidding war for oil from the Middle East, the head of ChevronTexaco Corp. said on Tuesday.

The rapid growth in energy demand from Asia coupled with difficulties in accessing oil reserves has also resulted in a new energy equation where the days of cheap oil and gas are numbered, Dave O'Reilly, chief executive of ChevronTexaco, told a Cambridge Energy Research Associates conference.

Asian giants like China and India figure prominently in this new energy equation -- a development that should not go unnoticed by the U.S. government, O'Reilly said, without specifying what exactly Uncle Sam should do about it.

"What I see happening is the beginning of alliances forming between Asian entities and Middle East entities for the long term," O'Reilly told reporters. "And I think it's very important that our government recognizes and understands the implications of that."

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I just read this article and I wondered what everyone in here thought of it? I think its time to begin moving toward a Hemp fuel based system. I've heard differing opinions about Peak Oil so I don't know if thats what we're reaching, but this seems rather ominious reguardless..

Hiz Highness

I think there's so much misinformation and disinformation spread about world energy supply that it remains extremely difficult to know what the truth is.

Peak oil was first predicted (erroneously) to hit in the 70's. Now some peole claim that we're hitting peak right now and others claim that we still have plenty of time. The US department of energy seems to think we won't hit peak oil until 2040.

What remains certain is that we will hit peak at some point. If we don't have a viable alternative fuel source after we hit peak the world may rapidly plunge into fierce global warfare.

As for hemp fuel . . . does anyone have scientific sources that aren't closely tied with the legalization movement who think that hemp biodiesel could replace gasoline? It seems that the cannabis community is quick to offer hemp oil as an alternative fuel but I have yet to see that solution offered by someone outside of the community.

-HH

S2

I like the Nuclear option

Hiz Highness

For breaking senate fillibusters or as an energy source?

-HH

DonkeyPunch

No no. Its Noo-kya-ler.

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HappyMan

Higher oil prices would make alternative energies more cost effective! I say we stick it to the Chinese and Indians and let them handle the middleeast.

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