DOE predicts gasoline shortages

The U.S. Department of Energy report directly addressed the concept of peak oil and how to deal with it. Peak oil means oil production is maximized and supply goes down from that point forward. Coupled with a surge in demand from countries like China and India, some energy experts say this could be a problem for America's economy.


"The world is consuming more oil than it is finding, and at some point within the next decade or two, world production of conventional oil will likely peak," the report says.


"It is important to note that initiation of all of the options simultaneously does not even satisfy half of the U.S. liquid fuels requirements prior to 2025," the report says. "If the peaking of world conventional oil production occurs before 2025, the U.S. may not have a choice in terms of a massive national physical mitigation program."

Read full report here (thankS Joe - AutoGreenBlog!)