TV News LIES

Monday, Dec 22nd

Last update01:55:24 AM GMT

You are here News Energy US military warns oil output may dip causing massive shortages by 2015

US military warns oil output may dip causing massive shortages by 2015

E-mail Print PDF

Surplus oil production capacity could disappear by 2012The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a significant economic and political impact.

The energy crisis outlined in a Joint Operating Environment report from the US Joint Forces Command, comes as the price of petrol in Britain reaches record levels and the cost of crude is predicted to soon top $100 a barrel.

"By 2012, surplus oil production capacity could entirely disappear, and as early as 2015, the shortfall in output could reach nearly 10 million barrels per day," says the report, which has a foreword by a senior commander, General James N Mattis.

It adds: "While it is difficult to predict precisely what economic, political, and strategic effects such a shortfall might produce, it surely would reduce the prospects for growth in both the developing and developed worlds. Such an economic slowdown would exacerbate other unresolved tensions, push fragile and failing states further down the path toward collapse, and perhaps have serious economic impact on both China and India."

The US military says its views cannot be taken as US government policy but admits they are meant to provide the Joint Forces with "an intellectual foundation upon which we will construct the concept to guide out future force developments."

More...


Most Recent Related Stories...


Oil prices plummet as OPEC decides against output cut

Oil prices plummetCrude prices collapsed Thursday after the powerful oil collective OPEC said it wouldn't intervene in global...

South Korea shuts down nuclear reactor after crack discovered

S Korea nuclear reacgtor shutSouth Korea shut down one of its nuclear reactors Friday after a crack was detected in...

One dead in Gulf of Mexico rig accident

Oil rig explosionThere is no pollution associated with an explosion on a drilling platform about 12 miles off...

PlayStation 4 And Xbox One Are Energy Hogs

playstation and XboxFor all their graphical improvements and multimedia functionality, there's one place where Microsoft's Xbox One and...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!