Financial Sense Newshour
Anthony Boeckh Still Bullish For Now | G. Edward Griffin on Secret Fed Bailouts in the Credit Crisis
In Depth 12/Jan/2011One cubic mile of oil (CMO) corresponds very closely to the world's current total annual consumption of crude oil. The world's total annual energy consumption - from all energy sources- is currently 3.0 CMO. By the middle of this century the world will need between 6 and 9 CMO of energy per year to provide for its citizens. Adequate energy is needed remove the scourge of poverty and provide food, clothing, and shelter for the people around the world, and more will be needed for measures to mitigate the potential effects of climate change such as building dikes and desalinating water.