[All] American officials (via Wikileaks) on Saudi Arabian Oil Reserves

[Peter Kofler]

This might be a good time to think about reducing your dependence on oil, if you haven't already. 
 
http://www.treehugger.com/files/2011/02/peak-oil-2012-saudi-arabia-oil-overestimated-40-percent-wikileaks.php?campaign=top_news
 
Reason #1: Climate Change
 
Reason #2: Peak Oil
 
We might be sitting on top of a lot of oil in Canada but it'll be floated at world prices which are bound to get higher and more volatile as: a.) supply struggles to keep up with demand; b.) production costs keep rising due to more expensive oil reserves (tar sands, shale oil, deep sea oil, Arctic oil) being exploited and c.) investors continue to speculate on oil as a commodity, driving up not only oil prices but anything associated with oil (food, shelter, clothing, plastics, electronics, general living costs). 
 
You'd think the conversion off oil (given the imminent reality of peak oil) should be treated as a global emergency (the project is estimated to take +20 years given a WWII-style global mobilization, much longer if done incrementally, ref. Richard Heinberg: The Oil Depletion Protocol) but don't count on it from our resource and consumption wealth-addicted governments, particularly the feds.
 
And don't count on the "free unfettered market" solving this one on its own - not while it's engaged in practices like "shorting" (ref. muni bonds), commodities speculation, etc. 
 
Isn't "wealth creation" great!? 		 	   		  
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