Sunday, September 11, 2005

Some say Katrina's aftermath is glimpse of world's energy future

"Soaring energy prices, long lines at the gasoline pump and supply shortages in the wake of Hurricane Katrina should serve as a wake-up call about the nation's energy situation.

"This is really the squall line in front of the big storm," said Jeffrey Brown, a Dallas-area independent geologist. He visited Midland recently to address the Forum for Exploration, Production and Acquisitions to discuss "Peak Oil: It's Impact on the Oil Patch Economy and on the U.S. and World Economies."

Brown, who is helping Matt Simmons and James Kuntsler prepare a presentation on the topic to be given in Dallas in November, believes the world is at, near or perhaps just past its peak of sustainable oil production.

It took, he noted, a coordinated effort of release from the nation's Strategic Petroleum Reserve and from the European Union to calm markets after the hurricane hit, an indication that capacity has been reached."

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