3 More years huh?

I guess we can look forward to more scenes like this (a video showing how people are stealing gas from gas stations by taking apart the electronics in the pump) over those next 3 years.

Sounds more like the early stages of The Long Emergency to me.  When the Secretary of Energy says “The oil has gone up because the suppliers are unable to make the flows equal to the demand.”  Even though they could make HUGE Profits right now if they upped production, it means only one thing; they can’t up production.

Welcome to the era of Peak Oil:

From MSNBC.COM: 

Bodman sees up to three years of fuel pain

Energy secretary says oil companies ‘have lost control of the market’

Gasoline prices have soared an average of 60 cents a gallon in less than a month because suppliers are unable to keep up with demand, a situation that could persist up to three more years, Energy Secretary Samuel Bodman said Sunday.

Bodman said on NBC’s “Meet the Press” that the shortfall was a sign of a stronger economy under President Bush, but he acknowledged that, at least for now,  “the suppliers have lost control of the market.”

“The oil has gone up because the suppliers are unable to make the flows equal to the demand,” he said. “… Clearly, it’s going to be a number of years, maybe two to three years, before suppliers are going to be able to keep up with those demands.”

(more here)