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inthysite -> RE: The McBush Oil Plan (8/11/2008 12:10:42 PM)
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Since everyone loves to quote the Department of Energy on this subject here are excerpts from a study that was prepared for them by their own appointed committee The National Petroleum Council: The National Petroleum Council is a federal advisory committee to the Secretary of Energy. The sole purpose of the National Petroleum Council is to advise, inform, and make recommendations to the Secretary of Energy on any matter requested by the Secretary relating to oil and natural gas or to the oil and gas industries. During the last quarter-century, world energy demand has increased about 60 percent, supported by a global infrastructure that has expanded to a massive scale. Most forecasts for the next quartercentury project a similar percentage increase in energy demand from a much larger base. Oil and natural gas have played a significant role in supporting economic activity in the past, and will likely continue to do so in combination with other energy types. Over the coming decades, the world will need better energy efficiency and all economic, environmentally responsible energy sources available to support and sustain future growth. The United States and the world face hard truths about the global energy future over the next 25 years: Coal, oil, and natural gas will remain indispensable to meeting total projected energy demand growth. The world is not running out of energy resources, but there are accumulating risks to continuing expansion of oil and natural gas production from the conventional sources relied upon historically. These risks create significant challenges to meeting projected energy demand. To mitigate these risks, expansion of all economic energy sources will be required, including coal, nuclear, renewables, and unconventional oil and natural gas. Each of these sources faces significant challenges—including safety, environmental, political, or economic hurdles—and imposes infrastructure requirements for development and delivery. “Energy Independence” should not be confused with strengthening energy security. The concept of energy independence is not r realistic in the foreseeable future, whereas U.S. energy security canbe enhanced by moderating demand, expanding and diversifying domestic energy supplies, and strengthening global energy trade and investment. There can be no U.S. energy security without global energy security. Free and open markets should be relied upon wherever possible to produce efficient solutions. Where markets need to be bolstered, policies should be implemented with care and consideration of possible unintended consequences. The Council proposes five core strategies to assist markets in meeting the energy challenges to 2030 and beyond. All five strategies are essential—there is no single, easy solution to the multiple challenges we face. However, the Council is confident that the prompt adoption of these strategies, along with a sustained commitment to implementation, will promote U.S. competitiveness by balancing economic, security, and environmental goals. The United States must: Moderate the growing demand for energy by increasing efficiency of transportation, residential, commercial, and industrial uses. Expand and diversify production from clean coal, nuclear, biomass, other renewables, and unconventional oil and natural gas; moderate the decline of conventional domestic oil and natural gas production; and increase access for development of new resources. Integrate energy policy into trade, economic, environmental, security, and foreign policies; strengthen global energy trade and investment; and broaden dialogue with both producing and consuming nations to improve global energy security. Enhance science and engineering capabilities and create long-term opportunities for research and development in all phases of the energy supply and demand system. Develop the legal and regulatory framework to enable carbon capture and sequestration (CCS). In addition, as policymakers consider options to reduce CO2 emissions, provide an effective global framework for carbon management, including establishment of a transparent, predictable, economy-wide cost for CO2 emissions. This is just a very small part of a very large report, it was taken from the Executive Summary. You can view and download the entire report for free here: Hard Truths - Facing the Hard Truths about Energy
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