Uranium Part VI (2/19/07)
Force #5: Peak Oil and Peak Natural Gas .
In 2006, global oil demand grew 0.9%, thanks to steady growth in China and the Middle East. The world used 84.5 million barrels of oil per day last year, according to the International Energy Agency. That’s nearly 31 billion barrels, and the most oil used in a year...EVER. What’s more, world demand is forecast to rise 1.6% this year to 85.77 million barrels a day.
Worldwide oil and gas reserves are becoming depleted at an ever increasing rate, with many analysts convinced that we are fast approaching Peak Oil and Peak Natural Gas.
In fact, the former Soviet Republic Belarus, which was hardest hit by the Chernobyl nuclear accident, is pulling out all the stops to accelerate its nuclear energy program. Reason: President Alexander Lukashenko is desperate for an alternative to Russian natural gas that is fast rising in price.
If Belarus is embracing nukes, I believe even the most die-hard holdouts won’t be far behind.
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