Wednesday, January 05, 2005

Like a ghost in the night

an old friend re-appears. Mike Mulrooney and I used to be roommates, we used to eat donairs together, and we used to curse the shittiness of our apartment together.

When he graduated, he moved off to the Sierra Nevadas. Now he lives somewhere in Africa, and plunders the earth in some fashion.

He read one of my posts where mutual friend Jason and I discuss the US' addiction to fossil fuel. Now he wants to weigh in:

I agree that there is some merit to the power control and stockpiling of reserves issue, but America's greed for oil and gas is huge because they use more than the rest of us. To skew the issue and say that they don't need the reserves is false (sorry Jason).

Here are some staggering stats (get in touch with me re: sources if you want 'em):
April 2004

The world oil market daily produces and consumes 76 million barrels.

The United States, with 5% of the world's population, daily consumes 20 million barrels (840 million gallons) - - or 26% of world consumption. U.S. consumption is at a record high while U.S. oil production is at a 50-year low and declining, covering just 30% of our consumption needs - - a 71% gap, and reserves are declining.

Causing rising imports from other nations - a record high - - while reserves of prime import sources decline. Additionally, U.S. natural gas reserves are falling and imports rising. Natural gas is not in nearly the shape oil is, but we have not been producing and consuming it as long... give it some time.

OPEC throws another monkey into the cogs of this argument. The US can't TAKE oil from anyone. Production is metered and controlled to contol surplusses and deficits in the market.

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