U.S. Army

US military warns oil output may dip causing massive shortages by 2015

Source: http://www.guardian.co.uk/business/2010/apr/11/peak-oil-production-supply

The Joint Operating Environment report paints a bleak picture of what can happen on occasions when there is serious economic upheaval. "One should not forget that the Great Depression spawned a number of totalitarian regimes that sought economic prosperity for their nations by ruthless conquest," it points out.

US military warns oil output may dip causing massive shortages by 2015
• Shortfall could reach 10m barrels a day, report says
• Cost of crude oil is predicted to top $100 a barrel

Terry Macalister
guardian.co.uk, Sunday 11 April 2010 18.47 BST


Surplus oil production capacity could disappear by 2012 a report from US Joint
Forces Command, says. Photograph: Katja Buchholz/Getty Images