Page added on March 28, 2018
Russia and China are outpacing the United States in the development of super-fast missile technology, Pentagon officials and key lawmakers are warning.
Russia says it successfully tested a so-called hypersonic missile this month, while China tested a similar system last year expected to enter service soon.
“Right now, we’re helpless,” Sen. James Inhofe (R-Okla.), a senior member of the Senate Armed Services Committee, said in advocating for more investment in hypersonics, along with missile defense.
Hypersonics are generally defined as missiles that can fly more than five times the speed of sound.
Gen. John Hyten, commander of U.S. Strategic Command, last week described a hypersonic as a missile that starts out “like a ballistic missile, but then it depresses the trajectory and then flies more like a cruise missile or an airplane. So it goes up into the low reaches of space, and then turns immediately back down and then levels out and flies at a very high level of speed.”
In November, China reportedly conducted two tests of a ballistic missile with a hypersonic glide vehicle that U.S. assessments expect to reach initial operating capability around 2020. The country had already conducted at least seven tests of experimental systems from 2014 to 2016.
Meanwhile, earlier this month, Russian President Vladimir Putin delivered a flashy state of the nation address to tout a slate of new weapons, including a hypersonic missile he claimed was “invincible” against U.S. missile defenses. About a week later, Russia claimed it successfully tested a hypersonic.
At the time of Putin’s announcement, the Pentagon said it was “not surprised” by the report and assured the public that it is “fully prepared” to respond to such a threat.
But in congressional testimony last week, Hyten conceded U.S. missile defense cannot stop hypersonics. He said that the U.S. is instead relying on nuclear deterrence, or the threat of a retaliatory U.S. strike, as its defense against such missiles.
“We don’t have any defense that could deny the employment of such a weapon against us, so our response would be our deterrent force, which would be the triad and the nuclear capabilities that we have to respond to such a threat,” Hyten told the Senate Armed Services Committee.
To bolster missile defenses against hypersonics, Hyten advocated space-based sensors.
“I believe we need to pursue improved sensor capabilities to be able to track, characterize and attribute the threats, wherever they come from,” he said. “And, right now, we have a challenge with that, with our current on-orbit space architecture and the limited number of radars that we have around the world. In order to see those threats, I believe we need a new space sensor architecture.”
Asked if the U.S. is really falling behind Russia and China on hypersonics, Thomas Karako, director of the Missile Defense Project at the Center for Strategic and International Studies, said flatly: “Yes.”
“And the reason is the U.S. hasn’t been doing anything near the same pace both in terms of developing our own capabilities but also failing to develop sensors and shooters necessary to shoot down theirs,” he continued.
Terrestrial sensors are limited in their ability because of the curvature of the earth, Karako said, but “you can’t hide from a robust constellation of space-based sensors.”
Yet while the last five administrations have identified space-based sensors as a critical need on paper, nothing has come to fruition, he said.
“One of the reasons that we haven’t prioritized the hypersonic threat is we were slow to kind of appreciate not merely the Russia and China problem, but the Russia and China missile problem,” Karako said.
In that regard, he credited the National Defense Strategy and the Nuclear Posture Review, both of which were unveiled by the Trump administration earlier this year, for their renewed focus on a “great power competition” with Russia and China.
Sen. Deb Fischer (R-Neb.), chairwoman of the Senate Armed Services Strategic Forces Subcommittee, likewise cited them as helping the U.S. get back on track in the area of hypersonics.
“I think we are aware of the capabilities that our adversaries have, and … whether it’s the Nuclear Posture Review, National Defense Strategy, these are all laid out because of the identification of the threats we have,” she said.
Fischer added that there “probably will be” something about hypersonics in her subcommittee’s portion of this year’s annual defense policy bill.
But the Nuclear Posture Review, in particular, has been controversial for its call to develop a sea-launched nuclear cruise missile and a “low yield” warhead for submarine-launched ballistic missiles. Those new capabilities are part of the deterrence that Hyten cited, but critics say the document is poised to fuel an arms race.
“Calling for the addition of new weapons and weapons capabilities to our arsenal and expanding the role of nuclear weapons in U.S. national security strategy imposes significant economic burdens and undermines decades of United States leadership to prevent the use and spread of nuclear weapons,” more than 40 House Democrats, led by Reps. Earl Blumenauer (Ore.), Barbara Lee (Calif.) and Mike Quigley (Ill.), wrote Monday in a letter to President Trump.
“We oppose this approach and will continue to support maintaining an effective nuclear deterrent without wasting taxpayer dollars, inciting a new arms race or risking nuclear conflict,” they said.
In addition to the nuclear review, Pentagon officials have been touting budget proposals that would put more money toward hypersonics and missile defense that they say will help close the gap with Russia and China.
Hyten told the Senate Armed Services Committee that there’s $42 million in the fiscal year 2019 budget for the Air Force and the Missile Defense Agency to work on a prototype for space-based sensors.
Air Force Secretary Heather Wilson, meanwhile, told the House Armed Services Committee last week her fiscal 2019 budget includes $258 million for hypersonics.
And Defense Advanced Research Projects Agency (DARPA) Director Steven Walker touted his $256.7 million fiscal 2019 budget for hypersonic missile development the same day as Putin’s press conference. Still, he said, DARPA needs more money for infrastructure to test the missiles, as most of the agency’s testing is done out of one facility.
“The dollars that were allocated in this budget were great, but they were really focused on adding more flight tests and getting some of our offensive capability further down the line into operational prototypes,” he told the Defense Writers Group. “We do need an infusion of dollars in our infrastructure to do hypersonics.”
Inhofe, the senator from Oklahoma, said he’s most worried about the missile defense issue, adding there “appears to be no defense” against hypersonics. To him, the answer is reversing defense budget cuts, which Congress has taken steps to do in a two-year budget deal and a recently passed appropriations bill for fiscal 2018.
“We need to make up the losses that we had during the Obama administration by putting a priority, which we are doing now, on the military,” he said.
169 Comments on "Russia, China eclipse US in hypersonic missiles"
MASTERMIND on Thu, 29th Mar 2018 12:58 am
Greg this is how the collapse will happen
https://imgur.com/a/PkHlK
There will be likely no survivors! NTHE! Banks go bust lose everyone’s money. governments collapse, industries go bankrupt, and then the nuke plants meltdown and explode! Even the humans who have never contacted society living in the Amazon rain-forest are going to feel the pain!
GregT on Thu, 29th Mar 2018 1:11 am
“Another part of America you have no clue about.”
Boat,
Was it not you who said that Texans know more about football, than they do about their own political system?
Just a guess, but I doubt that Cloggie pays very much attention to American football.
GregT on Thu, 29th Mar 2018 1:16 am
“Greg this is how the collapse will happen”
https://imgur.com/a/PkHlK
So you’re saying that modern industrial society will collapse before it causes global mass extinction?
You’re far too overly optimistic MM.
DerHundistlos on Thu, 29th Mar 2018 1:32 am
Mad Kat,
Like the media, you are blowing the opioid issue way out of context. For beginners, the number of prescriptions being written has declined dramatically and this has created an insidious new problem. Patients who have a legitimate need for opioid meds are unable to have their prescriptions filled. Doctors are scared shitless to prescribe meds for suffering patients. This problem is most acute in minority communities.
To put this matter into context, according to the NIH, 89.000 Americans die annually from alcohol while just half that amount died from an OD and of those who died from an OD, most were due to heroin.
So where’s the outrage over alcohol? There is none.
MASTERMIND on Thu, 29th Mar 2018 1:45 am
DerHundistlos
Drug overdoses killed more Americans last year than the Vietnam War
https://www.cbsnews.com/news/opioids-drug-overdose-killed-more-americans-last-year-than-the-vietnam-war/
deadly on Thu, 29th Mar 2018 3:40 am
No doubt about it, this has been one cold winter with not much relief in the form of warm temperatures, there aren’t any.
Colder than Hades out there for this time of year, a good 30 degrees colder and more for daytime highs.
No matter where you go, there you are.
Doesn’t matter anymore, the world is fast becoming a shithole.
Make America a Shithole just like the shithole Philippeons have and Trump is going to do it.
Theedrich on Thu, 29th Mar 2018 6:31 am
U.S. imperialism is planeticidal. The New American Century project must be defeated. And the only way that is going to happen is if Russia and China develop transcendent weaponry that forces Yankeedom to recognize its own impotence in the face of superior power and crawl back into its shell. Putin, whatever his many faults and/or crimes, is the only hope left for the earth.
fmr-paultard on Thu, 29th Mar 2018 7:31 am
the alt-tard media’s fundamental thesis is americans are dumb and sheeples.
then they’re magically unconvinced by external interference.
in contrast the un alt-tard existence is about worshipping of supertards. this is a system of merit meterocrity
JuanP on Thu, 29th Mar 2018 8:21 am
“Unproven Allegations” by Stephen Cohen
https://www.rt.com/op-ed/422673-russiagate-skripal-cold-war/
Boat on Thu, 29th Mar 2018 10:26 am
Lol at Putin brings hope. To who? Assad? Iran? N Korea? What message did the West miss that would save the planet from climate change or over population.
Let’s see a list of game changing actions. Not sure more pipelines will suffice.
fmr-paultard on Thu, 29th Mar 2018 10:26 am
look at what i found guys
The March 24 strike near Ubari in southern Libya killed “two Al-Qaeda terrorists, including Musa Abu Dawud, a high-ranking Al-Qaeda in the Lands of the Islamic Maghreb (AQIM) official,” the US military’s Africa Command said in a statement.
i don’t do this much anymore.
Dude assumed name abu dawud. tards are disappointed
https://imgur.com/a/2df8v
Boat on Thu, 29th Mar 2018 10:38 am
Mm
As usual your not seeing the big picture. 10’s of millions in population over shoot and you worry about drug death. Embrace death, we all will once. Think of each death as a sacrifice for the greater good.
Cloggie on Thu, 29th Mar 2018 10:48 am
Clogg about Saudi’s solar fantasy. It wont work
Desert sun in Qatar too hot for solar panels to work
https://www.thetimes.co.uk/article/desert-sun-in-qatar-too-hot-for-solar-panels-to-work-h23kmktbp
And air pollution and dust can cut solar power down by 25%.
http://pratt.duke.edu/about/news/solar-pollution
You can stick your 50 C in a place where the sun doesn’t shine, pun intended:
https://weather-and-climate.com/average-monthly-min-max-Temperature,Riyadh,Saudi-Arabia
In July the average min-max variation in KSA is merely 25-38 C. Yes, temperature has a limited negative impact, but is more than completely “outshined” by the abundant solar irradiation.
KSA government study claims 0.5 % / C loss, resulting in 16.5% reduction compared to optimal conditions like in my rainy/clouded Holland:
https://tinyurl.com/ybudl6u8
Meanwhile there is sufficient experience with solar in the desert. If it wouldn’t work, they would not haver announced this 200 GW mega-project.
Cloggie on Thu, 29th Mar 2018 10:54 am
Putin, whatever his many faults and/or crimes, is the only hope left for the earth.
Not to mention “our kind”.
https://tinyurl.com/ya9pcscn
Absolute masterpiece:
“Boreas Rising: White Nationalism & the Geopolitics of the Paris-Berlin-Moscow Axis”
Even the good old “moderate Republican” and liberal Paul Craig Roberts is meanwhile joking about the “mongrelizing West”.
DJT may have had Hitler books under his bed, a printout of this article was near my bed for more than 10 years and is the US expression of Gaullism.
Cloggie on Thu, 29th Mar 2018 11:01 am
The #1 in the US foreign policy hierarchy and chairman of the CFR, (((Richard Haass))), is throwing the towel in the ring:
https://www.project-syndicate.org/commentary/end-of-liberal-world-order-by-richard-n–haass-2018-03
The “Great Thinker” or should I say “Mastermind” ROFL who ruined the NWO by giving the green light to invading/meddling both Iraq and Syria, has to admit that the old liberal international order is melting away. Read: Haass does not expect to be able to topple Putin and Xi. It’s official: America will fail in its century old “calling” to conquer the world. Haass says so.
That doesn’t mean of course that Eurasia can’t topple the Haass regime in Washington.
Let the fun begin. America, we are going to liberate you back.
GregT on Thu, 29th Mar 2018 11:51 am
“Russia scholar Stephen Cohen banned from US media
“The problem is, is that the Washington elite depends primarily on the mainstream television, and on the three newspapers, The New York Times, The Washington Post, The Wall Street Journal. Our point of view, never, since last February when the crisis began, has appeared on their opinion pages. Never. We’ve been excluded. I have never seen this before in America. It’s very strange to me.”
https://www.youtube.com/watch?v=Ds-O8kFJIH4
‘Stephen Frand Cohen is an American scholar and professor emeritus of Russian studies at Princeton University and New York University.’
Boat on Thu, 29th Mar 2018 11:56 am
Any Republican that hires ileagles is and has been a criminal for decades. The god Republican, Reagan, pardoned a slewvof them. Them red States at this moment harbor millions loving those cheap wages that drive down wages for the working man. They will never escape the blame along with the Dems.
peakyeast on Thu, 29th Mar 2018 11:58 am
Some types of solar cells is most efficient at about 100C.
If you want high temperature solarcells I think there is no real problem – just a matter of paying whats needed to use the correct ones.
Temperature upto about 110C is not a real problem – its just an excuse from people who dont want it to succeed.
Boat on Thu, 29th Mar 2018 12:06 pm
Trade liberal my ass. Red leaning companies moved those factories for cheap labor and the chance for more markets. Clog is doing his mm, mak history revision thing. Lol like some of us who have been around a few decades didn’t live American history. The right drove immigration and trade down the working mans throat. The right leaning Germans lead the charge.
GregT on Thu, 29th Mar 2018 12:20 pm
“Any Republican that hires ileagles is and has been a criminal for decades.”
And any Democrat who does the same is a humanitarian. Right Boat?
Boat on Thu, 29th Mar 2018 12:28 pm
Criminal dude, lock em up. Rule of law should Trump. This is a main factor Hillary lost. She was percieved as an insider. That’s where Obama/Dems lost a lot of cred. Not enough arrests following the recession.
fmr-paultard on Thu, 29th Mar 2018 12:46 pm
this assumes static missile defense but what do you expect from a dictator who can’t invent and total adherence to shogun policy?
supertards can fly drones for very cheap and i think it’s trivial to intercept very fast missiles with slow small ones provided that it’s detected soon enough. something like this already exists…example ship defensive missiles are small
DerHundistlos on Thu, 29th Mar 2018 4:37 pm
MM,
The latest numbers from the National Institute of Health reports that opioid related deaths were 28.648.
Regardless if you go with the CBS news numbers or NIH, Alcohol killed many more Americans than opioids and has killed millions more.
So what’s your solution? The Trump administration believes harsher prison sentences will solve the problem. Already attempted this approach with the result the US incarcerates more of its citizens per capita, by far, than all other nations. We now have a Police/Prison Industrial Complex.
Plantagenet on Thu, 29th Mar 2018 5:21 pm
Obama’s failure to keep up with Putin and Xi on the development of hypersonic missiles has created a hypersonic missile gap. It would be interesting to know how many times Obama was briefed on the hypersonic milssile development programs in China and Russia and chose to do nothing?
Cheers!
Cheers!
Boat on Thu, 29th Mar 2018 6:13 pm
Plant
We still spend hundreds of billions on weapon systems that hyper Sonic missile’s make obsolete. We are working on Lazer guns and the rail gun.
Boat on Thu, 29th Mar 2018 6:19 pm
DerHund
Blacks and immigrants are who we jail. By our European ancestors who allowed them in. Germans are the old white demographic with the most power. Blame them.
makati1 on Thu, 29th Mar 2018 6:19 pm
I don’t think Russia’s missiles will be the destruction of the Us. The Market Casino is going to crash and burn, never to recover. That will decimate ALL of the “investment” retirement plans to zero. 401Ks, etc. Bank savings will be confiscated/controlled. Social Security will be frozen/cut/end. Real estate will be worthless as there will be no buyers when the retirees want to “downsize” and pull their dream equity out. Third world America will be obvious to even the most stubborn denialist. Even worse than 3rd world because not 1 in 10,000 Americans know how to survive in a 3rd word situation.
https://www.zerohedge.com/news/2018-03-29/st-louis-fed-ironically-concerned-americans-lack-retirement-savings-0
This article is obviously nothing more than an investment ad to keep the rats from thinking outside the box. “Savings” in banks/investments will not save you. Owning a big home will not save you. A college degree will not save you. Intelligent, rational preparation will make it easier to transition. Time to step down that ladder to the lowest possible rung, before it is pulled out from under you by a crash far worse than 1929. I’m doing that. I suggest that you do also, before it is too late.
Boat on Thu, 29th Mar 2018 6:30 pm
Mak
Mak double speak. You better prep. No use prepping cause you all gonna die. PS Mak is so vain he moved to the P’s just because their so short. He likes to walk among them. Lol
dissident on Thu, 29th Mar 2018 6:31 pm
Funny how all the real nazis come out of the woodwork when Russian technology is brought up. Of course, Russian untermenschen could never, ever produce world leading tech. Because. Because the self-anointed ubermenschen have a monopoly on human intelligence.
For those who think that the US has nothing to worry about, check out MIT. There are basically no Americans there. Americans are too busy chasing easy money to study science and mathematics. That crap is for nerds. Well, you can’t have it both ways, you cannot be a Wall Street jock and innovate materials science (such as needed for hypersonic warheads) and to actually develop pulse-detonation engines (as opposed to dabble with them) which escape the limitations of the Brayton cycle.
Cloggie on Thu, 29th Mar 2018 7:01 pm
“Australian Government (Leaked) Study: concludes world peak oil around 2020
https://web.archive.org/web/20170415190328/https://www.aspo-australia.org.au/References/Bruce/BITRE-Report-117-Oil_supply_trends-2009.pdf”
OMG, millimind has found a 2009 article, when everybody was still into Richard “I have no clue” Heinberg.ROFL
peakyeast on Thu, 29th Mar 2018 7:06 pm
@dissident: Exactly – taking our the best and brightest to make them lawyers and economists is truly idiotic. Both items are necessary, but has little real value and at a staggering cost to society in their current forms.
Both could be optimized by a percentage in the high 90s and still provide the necessary functions to society.
makati1 on Thu, 29th Mar 2018 7:08 pm
Boat, prepping to reduce the pain of change is always smart. Do you mean that a diabetic should not take meds “because they are ALL gonna die” anyway? How about meds for high blood pressure? Colds? The flu? Arthritis? Headache? Cancer? Heart transplants? Heart valve replacement? broken bones? If so, stop any meds you might be taking and accept that you should not ‘prep’ to prevent pain because you are gonna die anyway. I prep to mitigate the pain of change. I know I will die eventually, but I do not have to suffer like the deniers, like yourself, will when the SHTF.
Cloggie on Thu, 29th Mar 2018 7:11 pm
“Blacks and immigrants are who we jail. By our European ancestors who allowed them in. Germans are the old white demographic with the most power. Blame them.”
You have not a beginning of an understanding of the concept of power structure. If you own the Fed and media, you own politics and country and empire.
Now boat, I leave it to you as an exercise to figure out who in the US owns the Fed, Wallstreet and media.
/facepalm
The whole world knows who owns the US, but not boat. He seriously thinks that “Germans” own the US, the same “Germans” who inflicted immense suffering on the real German people. You can’t get them any dumber than boat. Go back to your 50 inch teevee and watch blackball.
Cloggie on Thu, 29th Mar 2018 7:14 pm
“I don’t think Russia’s missiles will be the destruction of the Us. The Market Casino is going to crash and burn, never to recover. “
I think white seperatism is going to break up the US, not “the economy”.
onlooker on Thu, 29th Mar 2018 7:16 pm
Mak, the problem with Boat like many is he lives in a self made bubble of ignorance/delusion. So he sees no need to prep.
makati1 on Thu, 29th Mar 2018 7:17 pm
Cloggie, both are racing towards that end. Maybe it will take both. We shall see.
MASTERMIND on Thu, 29th Mar 2018 7:22 pm
1111
Davy on Thu, 29th Mar 2018 7:22 pm
“The whole world knows who owns the US”
Sure, Nazi, tell us all about who owns us.
Nazi, it is amazing how obsessed you are with the US. I think maybe we own you or why would you be so out of your mind over any and everything American.
“I think white seperatism is going to break up the US, not “the economy”.”
“Will Germany Still Belong To Germans In The Near-Future?”
https://tinyurl.com/ybpfj5ft
Looks like the break up is coming in Europe before the US….
MASTERMIND on Thu, 29th Mar 2018 7:23 pm
Projection of World Fossil Fuels by Country (Mohr 2015)
Over 900 different regions and subfuel situations were modeled using three URR scenarios of Low, High, and Best Guess. All three scenarios indicate that the consistent strong growth in world fossil fuel production is likely to cease after 2025. The Low and Best Guess scenarios are projected to peak before 2025 and decline thereafter. The High scenario is anticipated to have a strong growth to 2025 before stagnating in production for 50 years and thereafter declining.
https://www.scribd.com/document/375110317/Projection-of-World-Fossil-Fuels-by-Co
MASTERMIND on Thu, 29th Mar 2018 7:29 pm
Madkat
Read that peer reviewed study I just posted! All fossil fuels are peaking soon! And Coal cannot work without crude, crude cannot work without coal, natural gas cannot work without both oil and coal, Shale oil cannot work without any of those, and so on…
Boat on Thu, 29th Mar 2018 7:33 pm
Clog
I own a 60″ TV. Thank you. All systems are corrupt, just to varying degrees. I would like to see the US aspire to be the most honest one enforced by the rule of law. That’s how I was raised, worked and did business. My father and grand father as well. I could give a shit what foreigners think.
Boat on Thu, 29th Mar 2018 7:44 pm
Clog
Inspite of your tarnished value system you would be treated no different than any other. That should be normal in any business transaction, normal would include race, gender………….
Boat on Thu, 29th Mar 2018 7:47 pm
Clog
Now go listen to son of a preacher man by dusty Springfield and get some religion.
Cloggie on Thu, 29th Mar 2018 7:58 pm
“it is amazing how obsessed you are with the US. I think maybe we own you or why would you be so out of your mind over any and everything American.”
What do you mean, “we” own you.You are just as owned as I am. In fact, despite all your “nazism” shouting, you voted Trump, because you are rightfully scared to death of this third world mass immigration, that some day is going to push you into the inevitable civil war and blow up the US. But now that Trump is elected you have become a leftist extremist again, promoting multi-racialism and third-worldism.
I am indeed obsessed with the US… in order to finally get rid of it, but without running the risk of it becoming an adversary again like in WW1 and WW2. Therefor the US needs to go, if necessary in cooperation with Russia and China. Americans can’t rule themselves and have been taken over by the most ruthless people on the planet for a century now. What needs to be done is to liberate Americans from this mafia and it will probably take WW3 to achieve it.
Questions?
MASTERMIND on Thu, 29th Mar 2018 8:10 pm
Clog and Boat
Projection of World Fossil Fuels by Country (Mohr 2015)
Over 900 different regions and subfuel situations were modeled using three URR scenarios of Low, High, and Best Guess. All three scenarios indicate that the consistent strong growth in world fossil fuel production is likely to cease after 2025. The Low and Best Guess scenarios are projected to peak before 2025 and decline thereafter. The High scenario is anticipated to have a strong growth to 2025 before stagnating in production for 50 years and thereafter declining.
https://www.scribd.com/document/375110317/Projection-of-World-Fossil-Fuels-by-Co
MASTERMIND on Thu, 29th Mar 2018 8:44 pm
Clogg
Coal cannot work without crude, crude cannot work without coal, natural gas cannot work without both oil and coal, Shale oil cannot work without any of those, and so on…
Boat on Thu, 29th Mar 2018 8:52 pm
Mm
That can be one scenerio of many. Geopolitics interfere with the market all the time creating volitility in price and supply. In a perfect world oil would not be a concern.
MASTERMIND on Thu, 29th Mar 2018 8:57 pm
If a Nuclear Bomb Explodes Nearby, Here’s What You Should Do
https://www.sciencealert.com/if-a-nuclear-bomb-explodes-nearby-what-you-should-do-science-do-not-drive
Yeah all great advice unless it’s a Russian salted nuke then you will have to stay indoors for 60 years for the cobalt to decay. What a wonderful world.
MASTERMIND on Thu, 29th Mar 2018 8:58 pm
Boat
Your screams of denial sound like the squealing of a pig beginning delivered to the butchers shop. The volume of their protestations being directly proportional to the proximity of their inevitable fate….
MASTERMIND on Thu, 29th Mar 2018 9:01 pm
The End of the Oil Age is Imminent!
Recently, the HSBC oil report stated that 80% of conventional oil fields were declining at a rate of 5-7% per year. This means that there will be an oil shortage of ~30 million barrels per day by 2030 and ~40 million barrels per day by 2040.
http://www.scribd.com/document/367688629/HSBC-Peak-Oil-Report-2017
What is mentioned far less often is that annual oil discoveries have lagged annual production since the 1980s.
https://imgur.com/a/6dEDt
Now, this problem has nothing to do with the recent decline in the oil price, which started in 2014. This has been an on-going problem for the past 30 years. Now, the IEA is predicting oil shortages by ~2020 due to declining exploration.
https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000
Here, the IEA blames this problem on the low oil price. But, this problem started in the 1980s. The problem is geological: we are running out of conventional cheap oil. Shale and tar sands are not the answer, either. Those resources are far too expensive, compared to conventional oil, because the global economy is based on cheap conventional oil. Expensive oil is not a replacement for cheap oil.
Based upon the HSBC report and the IEA, the End of Oil Age will start around ~2020: there will be a dramatic economic depression due to exhaustion of cheap oil. This will cause a global economic collapse.