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Energy Alarmism: Myths That Make Americans Worry about Oil

cato.org — fears about oil supplies is exaggerated, and none should be a focus of U.S. foreign or military policy. "Peak oil" predictions about the impending decline in global rates of oil production are based on scant evidence and dubious models of how the oil market responds to scarcity.

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  • redragon104, on 07/25/2008, -0/+3Conclusion of the Article:
    The coming decades may present serious
    energy-related challenges to the world. Global
    warming may require collective action on a
    global scale to reduce emissions, a daunting
    task. Furthermore, even though oil is nowhere
    near running out, the world’s growing
    demand for energy and the finite nature of the
    petroleum reserves suggest that in the long
    term petroleum prices will rise. People will
    therefore need to develop alternative energy
    sources to supplement the energy reaped from
    current sources. Dispelling the myths that
    make Americans worry about the wrong energy
    issues is the first step toward confronting
    those real concerns.
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