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112 comments on DrumBeat: March 2, 2007

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cynus on March 2, 2007 - 9:09am Permalink | Subthread | Comments top

The GAO report that is due in a month is going to claim that PO is now. That is a HUGE development, possibly the biggest development in the PO story to date. Amazing...

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Segeltamp on March 2, 2007 - 10:45am Permalink | Subthread | Parent | Comments top

Hmm can you elaborate a bit? A translation of GAO for example? Ive worked a day here in Europe and my brain is a bit slow to figure it out?
Tha nks

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Leanan on March 2, 2007 - 10:48am Permalink | Subthread | Parent | Comments top

The "Switchgrass is cool, dude" article I posted above mentions it, and also includes a link to a Platt's story about it (provided by Bart in yesterday's DrumBeat).

I am not as excited as Cynus. Peak oil is now...but it's carefully phrased as peak conventional oil.

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Leanan on March 2, 2007 - 10:54am Permalink | Subthread | Parent | Comments top

And here's EB's take on it:

http://www.energybulletin.net/26644.html

They include links to previous discussions of the GAO report.

Oh, and this link explains what the GAO is.

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Super G on March 2, 2007 - 11:28am Permalink | Subthread | Parent | Comments top

GAO stands for the Government Accountability Office. Until recently, it was known as the General Accounting Office. It is the investigative branch of the U.S. Congress.

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MUDLOGGER on March 2, 2007 - 2:23pm Permalink | Subthread | Parent | Comments top

Your Government is accountable?

To Who?

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goritsas on March 2, 2007 - 4:36pm Permalink | Subthread | Parent | Comments top

Now, now. Tony doesn't want twats like you suggesting the US Government is any way less accountable than his very own.

Please, think of the special relationship! Good God man, are you suggesting any thing sordid? :)

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ImSceptical on March 2, 2007 - 4:57pm Permalink | Subthread | Parent | Comments top

Mudlogger, are you an owl? :-)

I know this is pedantic but it should be 'to whom?'

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kjmclark on March 2, 2007 - 11:23am Permalink | Subthread | Parent | Comments top

It won't take a month. The GAO is holding it for up to 30 days while Rep. Bartlett reviews it. Think the global markets are having heartburn now?

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bart on March 2, 2007 - 12:27pm Permalink | Subthread | Parent | Comments top

I agree, cynus, the GAO report is big news. However, it's not that there will be new information for those of us who have been following it. (For new information, one has to come to TOD.)

What's new is that peak oil will be getting official confirmation from a respected source, assuming Rep. Bartlett's hints about the report correctly describe it.

The Government Accounting Office (GAO) has a good reputation as an objective and independent voice within the U.S. government.

The report may just be the crack in the dam, making it politically permissable to talk about the subject -- just as the Hirsch Report gave peak oil added credibility a couple of years ago.

Already, as Byron King points out ("The Shell Answer Man"), the statements from the oil companies indicate they have reached similar conclusions as we have about peak oil -- they are just avoiding the term "peak oil", as well as by fuzzing the issue by talking up non-conventional sources of oil. I think that Leanan is right in suspecting that po skeptics will make full use of this tactic.

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Kalpa on March 2, 2007 - 1:08pm Permalink | Subthread | Parent | Comments top

Part of the suspense, I think, is finding out whether or not this story will ever precipitate a panic as the news of PO reaches a critical mass. How the MSN handles it, will be key. Presenting the PO skeptics side in conjunction with the GAO report, for example, may actually be a good thing.

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cynus on March 2, 2007 - 2:12pm Permalink | Subthread | Parent | Comments top

I remember the shock that learning about PO was to me several years ago and how I felt like I had been punched in the stomach for a month or so. I can't imagine what it will be like when hundreds of millions of people get that feeling all at once.

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tate423 on March 2, 2007 - 2:51pm Permalink | Subthread | Parent | Comments top

Take it further....

Imagine how they react with their assets they currently perceive as valuable. Last one out loses....

http://thefinancedude.blogspot.com

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tate423 on March 2, 2007 - 2:52pm Permalink | Subthread | Parent | Comments top

also....Perfect storm....PO, recessions, & GW.... YEH.....better be grabbin some cold ones and finding your spot to watch.

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