Sunday, January 01, 2006

Udall, congressmen call for energy transition

...Another expert witness at the Peak Oil hearing was Robert Esser, director of Global Oil and Gas Resources, a private research and consulting firm that provides continuing assessment of future oil supplies.

In a text of his remarks, he warned that the planet is consuming 30 billion barrels of oil a year of its finite resources.

"It is true that total annual global production has not been replaced by exploration success in recent years," he testified, but noted that exploration together with production upgrades more than compensated for oil produced during the eight years from 1995-2003.

"We still do not have an exact estimate of total reserves," he said, which makes it hard to accurately time Peak Oil. "Rather than an imminent peak, we see an undulating plateau, two to four decades away."

"A global problem has to be dealt with by a global approach, whether it's 5, 10, 15 years in the future, or already upon us," said Udall. "I see the issue as being one of political will. I don't know that we have the will today to tackle this."

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