Wake Up - Peak Oil - GAO Report

Hubbert Peak of Oil Production"There are currently 98 oil producing countries in the world, of which 64 are thought to have passed their geologically imposed production peak, and of those 60 are in terminal production decline....


"This GAO peak oil report is a clarion call for leadership at the highest level of our country to avert an energy crisis unlike any the world has ever before experienced and one that we know could happen at any time. Only the President can rally the country to take the urgent steps necessary. Potential alternatives to oil are extremely limited. Technology won't save us without time and money to develop and scale them up...

GAO Full Report

"... [B]y 2015 these technologies could displace only the equivalent of 4 percent of projected U.S. annual consumption. Under these circumstances, an imminent peak and sharp decline in oil production could have severe consequences, including a worldwide recession. If the peak comes later, however, these technologies have a greater potential to mitigate the consequences."