Personally, I hope it has not. Because if it has, then more of our hard earned dollars will go directly or indirectly to our enemies. Either way, we have put off doing the right thing for too long. It is time to move quickly to create alternative energy. This is the new frontier. This is where the future growth and wealth will be. Do we want to let China invent these new technologies? Looking back in 20 years, we will all have wished to have made this a more important issue sooner. But let’s forget about being late to the party and be the Life of the Party!
Oil shortage? Sources charge U.S. influence inflates world’s supply
David Schepp
Nov 10th 2009 at 7:00PM
Will the world soon run out of oil or are we swimming in the stuff? That debate just got a little murkier following a report in the Guardian newspaper that figures detailing how much oil the world has on tap have been distorted in deference to the United States. The report quotes a current employee and a former staffer at the International Energy Agency, an intergovernmental group that coordinates measures during oil-supply emergencies, among other tasks.
Despite forecasts that call for production to steadily rise by 2030, the world will likely instead see output decline, the U.K.-based newspaper reports, quoting an anonymous whistleblower at the IEA. The senior official claims the U.S. has been influential in encouraging the watchdog agency to play down the rate of decline from existing oil fields while over emphasizing the chances of finding new reserves, the Guardian said.
read the rest of the story: http://www.dailyfinance.com/2009/11/10/oil-shortage-sources-charge-u-s-influence-inflates-worlds-sup/
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