Friday March 30, 2007

GAO: U.S. needs a peak oil strategy

energybulletin.net -> gao.gov :

U.S. Government Accountability Office :

The U.S. economy depends heavily on oil, particularly in the transportation sector. World oil production has been running at near capacity to meet demand, pushing prices upward. Concerns about meeting increasing demand with finite resources have renewed interest in an old question: How long can the oil supply expand before reaching a maximum level of production-a peak-from which it can only decline?

GAO

1. examined when oil production could peak,
2. assessed the potential for transportation technologies to mitigate the consequences of a peak in oil production, and
3. examined federal agency efforts that could reduce uncertainty about the timing of a peak or mitigate the consequences. To address these objectives, GAO reviewed studies, convened an expert panel, and consulted agency officials.

What GAO Recommends

To better prepare for a peak in oil production, GAO recommends that the Secretary of Energy work with other agencies to establish a strategy to coordinate and prioritize federal agency efforts to reduce uncertainty about the likely timing of a peak and to advise Congress on how best to mitigate consequences. In commenting on a draft of the report, the Departments of Energy and the Interior generally agreed with the report and recommendations.

(2007-03-30 13:06:22 SGT) [Energy] Permalink

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