The Future of Oil: Peak Prices, Peak Production, Piqued Consumers

Oil Hearing: Peak Prices, Peak Production, Piqued Consumers

Select Committee to Discuss “The Future of Oil”

THIS HEARING WILL BE WECAST LIVE HERE and on CSPAN 3. 

WASHINGTON (June 9, 2008) – As prices at the pump reach record levels on a daily basis, many consumers and analysts are asking the same questions: How bad could prices get? And what policies are needed to address America’s oil crisis?

On Wednesday, June 11, Chairman Edward J. Markey (D-Mass.) and the Select Committee on Energy Independence and Global Warming will examine the long term prognosis for oil’s global supply and demand, and what solutions could be implemented to reduce demand and decrease prices.

A barrel of oil reached a new record price on Friday, and many analysts are saying $200 oil is a potentially imminent threat. Yet our own government energy analysts are saying oil could slide back to $50 a barrel, and supplies could increase, even as the private sector disagrees. The Select Committee will discuss this disconnect, as well as the global warming concerns of non-traditional oil retrieval methods like oil shale and oil sands.

WHAT: Select Committee Hearing, “The Future of Oil.”

WHEN: Wednesday, June 11, 2008 at 10:00 AM

WHERE: 1300 Longworth House Office Building, Washington, DC
and on the web at globalwarming.house.gov

OPENING STATEMENT: Chairman Edward J. Markey

WITNESS LIST:
Guy Caruso, Administrator, Energy Information Administration
Adam Sieminski, Chief Energy Economist, Deutsche Bank
Amy Myers Jaffe, Energy Studies Fellow at the James Baker Institute for Public Policy
Athan Manuel, Director of Land Protection Programs, Sierra Club
Karen Harbert, Managing Director and Executive Vice President, Institute for 21st Century Energy US Chamber of Commerce
 

Click here for full hearing transcript. 

VIDEO:

Full video archive of hearing.

Markey opening remarks

Rep. Inslee opening remarks

Rep. Larson question on oil speculation

Markey question and answer period

PHOTOS:

Guy Caruso addresses the Committee

Adam Sieminski addresses the Committee

 
Amy Myers Jaffe addresses the Committee

Athan Manuel addresses the Committee

Karen Harbert addresses the Committee

Chairmain Markey explores the habitually low predictions of energy costs over the past five years 

The panel at the hearing.

The panel at the hearing.

Return to Select Committee Hearing Testimony from the 110th Congress »