Shaun Kenney | Politics and Religion in Virginia's Public Square

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Saturday, June 25, 2005 Simulated oil meltdown shows U.S. economy's vulnerability Not that I am a doom and gloom type, but this is a rather sobering article on the vulnerability of our reliance upon foreign oil as an energy resource: This year the world is consuming about 84 million barrels of oil a day. America alone guzzles about 20.8 million barrels a day. Experts think oil-producing nations have only 1.5 million barrels a day or less of unused production capacity right now. A disruption anywhere could cause market panic and spiking prices. That's largely why oil and gasoline prices are so high right now. Saudi Arabia and other countries are trying to increase production, but that won't help much before next year at the earliest. Meanwhile, any hiccup in production, delivery or refining could cause disaster. 'A million or a million and a half barrels of oil a day off the market is a very realistic kind of scenario. You can think of a dozen different countries around the world ... where you can see that happening. Or even a natural disaster could do that,' Gates said in an interview. Perhaps one of the best articles I have seen on the situation. Read it all when you get a moment. posted by Shaun Kenney \| 6/25/2005 11:32:00 AM \| 0 comments 0 Comments: Post a Comment Home
	RedStormPAC $ About ShaunKenney.com is one of Virginia's oldest political blogs, focusing on the role of religion and politics in public life. Shaun Kenney, 30, lives in Fluvanna County, Virginia. Contact E-mail RSS/Atom Feed Links Bacon's Rebellion Deo Vindice First Things Google News Hiron's Blog Instapundit J's Notes Jaded JD Jefferson Mammoth Republitarian Save the GOP VCAP Virginia Centrist Virginia Club for Growth Virginia Progressive Virginia Virtucon Vivian J. Paige Waldo Jaquith The Jeffersoniad China Freedom Blog Alliance China e-Lobby Democratic China One Free Korea ShaunKenney.com Previous Posts Cuccinelli on Private Property Make some science Prayer for the Intercession of Pope John Paul II Tyrrany of the Few Poverty That Defies Aid SkepticalObservor: A Pathetic Literary Foray Death of the Referral Javascript OMT: Meet Adam Piper Asthma NYT: Some Politics May Be Etched in the Genes Search VA Blogs BlogNetNews.com	JEFFERSONIAD POLL: Whom do you support for Virginia Attorney General? 1) John Brownlee 2) Ken Cuccinelli View Results Recent Music Archives March 2002 April 2002 May 2002 June 2002 July 2002 August 2002 September 2002 October 2002 November 2002 December 2002 January 2003 February 2003 March 2003 April 2003 May 2003 June 2003 July 2003 August 2003 September 2003 October 2003 November 2003 December 2003 January 2004 February 2004 March 2004 April 2004 May 2004 June 2004 July 2004 August 2004 September 2004 October 2004 November 2004 December 2004 January 2005 February 2005 June 2005 July 2005 August 2005 September 2005 October 2005 November 2005 December 2005 January 2006 February 2006 March 2006 April 2006 May 2006 June 2006 July 2006 August 2006 September 2006 October 2006 November 2006 December 2006 January 2007 February 2007 April 2007 June 2007 July 2007 August 2007 September 2007 October 2007 November 2007 December 2007 January 2008 February 2008 March 2008 April 2008 May 2008 June 2008 July 2008