The Peak Oil Crisis: Summer’s End

While waiting to see how much damage this week’s hurricane will do, it is a good time to review recent developments in the world’s petroleum and economic situations for their relevance to peak oil.

Should it look as if the current hurricane is going to tear up the Gulf oil fields and the coastal refineries, it might not be a bad time to go out and fill your tank for U.S. gasoline stocks are unusually low. Any supply or refining disruptions in the next week or so have a good chance of resulting in spot shortages of gasoline.


These shortages in turn just might lead to the fabled “run of the pumps” in which 230 million drivers rush to their gas stations and start topping off tanks. In a matter of hours millions and millions of gallons would be transferred into consumer’s tanks and it likely would take weeks to sort out the ensuing mess. At a minimum it would give those people running for President or Congress in November something to talk about. If it happens, it will be fascinating to watch.

Even if this year’s hurricanes once again miss the oil patch, there will be enough else going on this fall that bears watching. With the Olympics winding down (the Para Olympics run until 17 September), China will soon be getting back to normal. Factories will reopen, trucks will start to roll, and Beijing’s economy supposedly will return to its accustomed ten percent annual growth accompanied by a five percent annual increase in oil consumption.

Or will it?

Falls Church News-Press