The Peak Of The Oil Wars

Lloyd's of London and The Guardian are not "professional lefty" agitators whom White House Press Secretary Gibbs was talking about in one of his glib fibs that outraged a lot of the president's election campaign supporters recently.

Yet they both warn of the dire consequences of ignoring the reality of peak oil:

One of the City's most respected institutions has warned of "catastrophic consequences" for businesses that fail to prepare for a world of increasing oil scarcity and a lower carbon economy.

The Lloyd's insurance market and the highly regarded Royal Institute of International Affairs, known as Chatham House, says Britain needs to be ready for "peak oil" and disrupted energy supplies ...

(The Guardian). The Lloyd's / Chatham House report quotes the U.S. Government treating peak oil as anything other than a conspiracy theory:

“Peak oil presents the world with a risk management problem of tremendous complexity.”

US Department of Energy 2007

(Lloyds / Chatham Report, page 15 of PDF). They go on to point out where the remaining oil will come from along with some reasons for the notion of "risk management":

Production from Iraq is the wild card. The current target of 12 million barrels a day by 2016 would make Iraq the world’s number one producer, potentially increasing global spare capacity and sending the oil price down. However, numerous legal, security and administrative problems hinder this development.

(ibid, page 16 of PDF, emphasis added). Dredd Blog has pointed out that the wars which are devastating the U.S. middle class but radically increasing the wealth of MOMCOM's one-percenter elites were and are being fought for oil.

I guess that puts us in The Gibbs Book of Lefties, but so be it, we "lefties" are spot on but he is developing a spotty record of fibs.

The left complains about a runaway military, runaway oil addiction, and a civilization based on oil that is doomed to cease to exist.

The military also agrees that global warming is a threat to natural security, so the lefties are not the problem.

The problem is the snoozers in government who do not have a clue, not the left.

The next post in this series is here.