The US military has warned that
surplus oil production capacity could disappear
within two years and there could be serious shortages by 2015 with a
significant economic and political impact.

The energy crisis
outlined in a Joint Operating Environment report from the US Joint
Forces Command, comes as the price of petrol in Britain reaches record
levels and the cost of crude is predicted to soon top $100 a barrel.

“By
2012, surplus oil production capacity could entirely disappear, and as
early as 2015, the shortfall in output could reach nearly 10 million
barrels per day,” says the report, which has a foreword by a senior
commander, General James N Mattis.

It adds: “While it is difficult
to predict precisely what economic, political, and strategic effects
such a shortfall might produce, it surely would reduce the prospects for
growth in both the developing and developed worlds. Such an economic
slowdown would exacerbate other unresolved tensions, push fragile and
failing states further down the path toward collapse, and perhaps have
serious economic impact on both China and India.”

The US military says its
views cannot be taken as US government policy but admits they are meant
to provide the Joint Forces with “an intellectual foundation upon which
we will construct the concept to guide out future force developments.”