The Geopolitical Consequences of Peak Oil

Klare pointed out that there are two aspects of peak oil: the famous “Hubbert’s Peak” of the oil production bell curve in which less and less oil is produced as oil fields and oil provinces go into depletion; and the fact that all the easy, safe oil is pumped first and the harder to reach, more dangerous, heavy oils are left to exploit later. The latter point, he contended, is not talked about as much. This is the oil in deep waters and Arctic regions and in politically unstable regions of the world that will be very costly to extract technically, monetarily and politically.

evworld