Peter Maass wrote a great article for the NYT this weekend:
In the past several years, the gap between demand and supply, once considerable, has steadily narrowed, and today is almost negligible. The consequences of an actual shortfall of supply would be immense. If consumption begins to exceed production by even a small amount, the price of a barrel of oil could soar to triple-digit levels. This, in turn, could bring on a global recession, a result of exorbitant prices for transport fuels and for products that rely on petrochemicals — which is to say, almost every product on the market. The impact on the American way of life would be profound: cars cannot be propelled by roof-borne windmills. The suburban and exurban lifestyles, hinged to two-car families and constant trips to work, school and Wal-Mart, might become unaffordable or, if gas rationing is imposed, impossible. Carpools would be the least imposing of many inconveniences; the cost of home heating would soar — assuming, of course, that climate-controlled habitats do not become just a fond memory.
Last night, Teri Gross interviewed him on NPR:
Fresh Air from WHYY, August 22, 2005 ยท The government of Saudi Arabia — the world’s largest oil exporter — says the country can keep up with global oil demand for 30 to 50 years. But experts dispute that claim, especially since demand continues to grow in the United States and China.
Journalist Peter Maass traveled to Saudi Arabia to examine the country’s oil reserves and the Saudi government’s claims. His article “The Breaking Point” is the cover story of the Aug. 21 New York Times Magazine. He talks about the political, financial and environmental implications of continued dependence on foreign oil and dwindling reserves.
Maass is currently working on a book about how oil shapes global politics and the world economy.
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