Tracking the storms of oil addiction

As the current economic crisis continues to deepen and branches out into additional sectors in more countries around the globe, we should be asking ourselves if the foundation of our economy is able to sustain us through the next several decades. We have built our modern civilization upon the use of fossil fuels, and as resources become more limited and population figures rise over the coming years, there is little doubt that the current crisis is but a precursor to a season of formidable storms.

Central to the energy debate going on in Congress and across the globe is the question of whether or not fossil fuel reserves are sustainable. While there is reported to be a plentiful amount of coal, oil, and natural gas deposits domestically, the recent peak and subsequent slump of oil commodity prices should give us the signal that our foundation is developing cracks.


Figuring out if global oil reserves are being depleted is a difficult task because there are incentives in place for countries to inflate their reserve figures and conceal the actual amount of oil they possess. According to Campbell and Laherrere