Oil and Gas Journal reports that the government agency responsible for keeping track of oil and gas reserves among other things is having its activities curtailed due to budget cutbacks:
"WASHINGTON, DC, May 2 -- The US Energy Information Administration will not prepare or publish US oil and gas reserves data for 2011 as it cuts $15.2 million, or 14%, from its budget, the US Department of Energy information and analysis agency said on Apr. 29. The reductions are part of Congress’s latest continuing resolution that was signed into law by US President Barack Obama on Apr. 15. The resolution keeps the federal government running through Sept. 30. ...
I found this little snippet particularly telling and unsettling:
"In addition to not preparing the annual oil and gas reserves data survey, the agency said it will be necessary to curtail efforts to understand linkages between physical energy markets and financial trading; suspend analysis and reporting on the market impacts of planned refinery outages; suspend collection and dissemination of monthly state-level data on wholesale petroleum product prices including gasoline, diesel, heating oil, propane, residual fuel oil, and kerosine; and halt preparation and publication of the annual petroleum marketing data report and the fuel oil and kerosene sales report. "
This is breathtaking in the depths of its shortsightedness and stupidity. Not to mention akin to aiding and abetting quasi criminal activity. It is hard to imagine clearer evidence of a society and system incapable of understanding its own problems let alone dealing with them.