[extropy-chat] Greenspan on Peak Oil

[The Avantguardian]

The following was forwarded to me from my friend
James:

Today's massive >4% decline in the share price of
energy stocks
followed this very interesting Greenspan speech in
Japan. Apparently a
huge block of XOM caused the drop.

- James

http://www.federalreserve.gov/boarddocs/speeches/2005/20051017/default.htm

------Excerpt------------
"We will begin the transition to the next major
sources of energy,
perhaps before midcentury, as production from
conventional oil
reservoirs, according to central-tendency scenarios of
the U.S.
Department of Energy, is projected to peak. In fact,
the development
and application of new sources of energy, especially
nonconventional
sources of oil, is already in train."

Apparently peak oil for real.



The Avantguardian 
is 
Stuart LaForge
alt email: stuart"AT"ucla.edu

"I don't want to achieve immortality through my work. I want to achieve it through not dying." - Woody Allen

"Our hope of immortality does not come from any religions, but nearly all religions come from that hope" - Robert G. Ingersoll


		
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