Earth’s mantle can generate methane
Untapped fossil-fuel reserves could be hidden deep within our planet.
Untapped fossil-fuel reserves could be hidden deep within our planet.
“For the next 20 years, growth in the world economy is going to raise demand by oil and oil equivalents from something on the order of 65 to 85 million barrels a day, to 330 million [barrels], which is a huge, huge number. It’s like eight Saudi Arabias.”
Even remote patches of oil are starting to look more and more attractive.
Even $50 a barrel can’t wean the world from oil. Only government can do that.
U.S. election-year pledges by both presidential candidates to wean the nation from its foreign oil dependence have vote-winning potential but may be just a pipe dream, energy experts say.
If the matter of America’s energy dependence is not answered in the next few decades, costs could grow faster than expenses related to health care.
Fresh Aire’s Terry Gross interviews ‘Blood and Oil’ author, Michael Klare
The tragic milestone of 1,000 U.S. deaths in the Iraqi quagmire should cause introspection about why the United States really went to war and whether it has been worth it.
While demand is expected to increase, however, Pickens and others also say world production has or will soon peak, meaning the world’s producers will be unable to recover more than the current 82 million barrels a day.
The significance of the US/Venezuela oil connection is worthy of note. The proximity of this source of imported oil to our Gulf of Mexico oil portals gives them major “ace in the hole” status.
The possible consequences of peak oil are gigantic and involve nothing less than a forced, massive, radical and sustained change in our way of life as we transition to alternative energy sources and the economic/political order they support. Our current oil fed, growth based, globalised industrial civilisation will not survive the transition, something new must take its place.
Lurking behind the historically high price of oil now placing a damper on our entire economy is the real problem: the sheer volume of oil that we have to import from other countries to keep our wheels turning.