U.S. Military Predicts Significant Oil Production Shortfalls By 2015

U.S. Military Predicts Significant Oil Production Shortfalls By 2015

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

US Military Warns Oil Output May Dip Causing Massive Shortages By 2015 -- The Guardian

• Shortfall could reach 10m barrels a day, report says
• Cost of crude oil is predicted to top $100 a barrel

The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a significant economic and political impact.

The energy crisis outlined in a Joint Operating Environment report from the US Joint Forces Command, comes as the price of petrol in Britain reaches record levels and the cost of crude is predicted to soon top $100 a barrel.

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http://www.guardian.co.uk/business/2010/ap...oduction-supply

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