Peak Oil is You
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Page added on September 2, 2010
The dirty topic of peak oil: get ready to reduce your reliance
Wouldn’t it be funny if we spent so long arguing about what to do about climate change that we ran out of cheap oil first? No, it wouldn’t really, it would be catastrophic.
But given the government’s delay in producing an Energy White Paper and the steady backsliding on the need to actually reduce our greenhouse gas emissions in Australia, it is not beyond the realms of possibility. Even the usually optimistic International Energy Agency (IEA) is starting to sound a little nervous.
No one can say with certainty how much oil is left in the ground nor how much it will cost to take it out. As with climate change, the search for certainty in relation to oil supply is a fool’s errand. But while no-one can say with certainty how much is left, virtually no economists or oil industry analysts disagree with the statement that oil production cannot keep growing forever. The notion that oil production must one day peak is now referred to as ‘peak oil’.
While there is virtually no debate that oil production must one day peak, there is much debate about the timing and significance of such a peak. For those who have become accustomed to talking about emission reduction targets for 2020 and 2050 it may come as some surprise to learn that the mid-range forecasts for the peak in global oil production are 10-15 years. This does not mean that there will be no oil in 10 or 15 years time, but it means oil is going to get a LOT more expensive. Put simply, if demand continues to rise and supply starts to fall the days of the average Australian driving their Landcruiser to work will be over.
One Comment on "The dirty topic of peak oil: get ready to reduce your reliance"
Jimmy on Thu, 2nd Sep 2010 10:03 pm
If the peak is far away, then we could say that the invasions of iraq and afghanistan are long term strategic ploys? The western world does not do strategic long term, it does reactionary short term.
Maybe, but i cant help but think that the data from saudi and Russia, Mexico do not lie when you read between the lines. It is also telling that gulf of mexico has shown that oil companies are having to go deepwater rather than just buy off a major producer. If reserves were ample, you wouldnt be drilling that deep.
The blatant fascism and kleptocracy on display also implies an elite insulating itself from the inevitable onslaugt of the brainwashed masses who think they are entitled to anything they want, indefinitely.