Energy and political experts say oil crisis could erupt

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The Daily Breeze

Thursday, August 18, 2005

Energy and political experts say oil crisis could erupt

Leaders gather in Torrance for a program simulating a global oil shortage and face the daunting task of developing contingency plans.
By Muhammed El-Hasan
Daily Breeze

Civil unrest in Nigeria helps send oil prices from $60 a barrel to $80, putting the brakes on worldwide economic growth.

A month later, possible al-Qaida-linked attacks on oil facilities in Saudi Arabia and Alaska push the price of oil to an economically devastating $120 a barrel. U.S. gasoline prices have nearly doubled seemingly overnight. Americans and the world are waiting to see what the only superpower does. What can America do? Not much.

A simulated oil supply crisis played out Wednesday at the Torrance Cultural Arts Center. Rep. Jane Harman, D-El Segundo, was joined by former CIA Director James Woolsey, former California Gov. Pete Wilson and other energy and political experts in the event called Oil Shockwave.


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During the simulation and in a press conference afterward, the participants stressed that the United States must immediately begin reducing its dependence on oil, through conservation and further development of technologies that use alternative fuels and hybrid motors. Otherwise, the United States risks ending up a "paper tiger," said Spiegel, who played the role of director of national intelligence.

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Harman noted that building reactors and finding places to dump the nuclear waste always faces opposition from nearby residents. "There's a NIMBY issue," Harman said. "We have to solve that before we recommend nuclear."

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During the simulation, the participants contemplated U.S. military action to secure Saudi Arabia's oil fields, government-imposed rationing of gasoline, and tapping the nation's Strategic Petroleum Reserve. All those options posed difficulties.

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