After the oil runs out
People complain now about gasoline at $3 per gallon. After Hubbert’s Peak, $7 per gallon will seem cheap.
People complain now about gasoline at $3 per gallon. After Hubbert’s Peak, $7 per gallon will seem cheap.
It is an unfortunate truth about human history that social systems, no matter how unjust, tend to reproduce themselves and that change emerges only from crises.
China’s insatiable, growing appetite for oil will direct future events in the East Asia. It’s not just commodity and stock prices that will be affected either… we maybe looking at a major military conflict in the Far East…
Much of Nigeria has come to a near-standstill after millions of workers walked out over rising fuel prices.
If peak oil theorists are correct, our dependence on oil is not only foolish, it’s lethal. Does modern civilization have just two choices–change or perish?
A report of a presentation on Peak Oil and Gas by co-leader of the New Zealand Greens, Jeanette Fitzsimons.
Now that OPEC has agreed to raise its crude oil production quotas in hopes of taming high and jittery oil prices, industry experts are growing more concerned about both the capacity and the security of oil tankers, the next link in the supply chain.
Full text of a lost speech. “By 2010 we will need on the order of an additional fifty million barrels a day. So where is the oil going to come from?… Oil is unique in that it is so strategic in nature. We are not talking about soapflakes or leisurewear here. Energy is truly fundamental to the world’s economy.”
ASPO’s 42nd newsletter is a must-read.
Surging oil prices should be seen as a warning and not a cure for declining oil and gas exploration which threatened to leave Australia dangerously reliant on overseas supplies, the head of the nation’s peak oil and gas body warned yesterday.
When oil was found in 1996 in Equatorial Guinea, the former Spanish colony in West Africa was one of the poorest countries in the world. Today, this small and sparsely populated country of 465,000 inhabitants has an offshore production of 350,000 bpd, making it the third largest sub-Saharan producer of oil, behind Nigeria and Angola. According to the African Development Bank, a year after oil was found, gross domestic product went up 76 %.
Oil, besides being a whole lot of political trouble, is approaching its production peak. What to do?