Peak Oil: Life After the Oil Crash

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Saved by 31 people (9 private), first by anonymouse user on 2006-03-02

Bnattrass on 2008-10-04 - Tags OIL & GAS , PEAK OIL , safari import
Deep_su on 2008-09-05 - Tags Energy_Crisis , Crude_Oil
Matthew55 on 2008-07-18 - Tags peak , oil , energy , economics
Robpatrob on 2008-07-05 - Tags peakoil , environment , energy , economics , oil , peak , politics
Ofelix on 2008-07-04 - Tags peak oil

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on 2006-04-20 by awicaks

Civilization as we know it is coming to an end soon. This is not the wacky proclamation of a doomsday cult, apocalypse bible prophecy sect, or conspiracy theory society. Rather, it is the scientific conclusion of the best paid, most widely-respected geolo

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Rather, it is the scientific conclusion of the best paid, most widely-respected geologists, physicists, bankers, and investors in the world. These are rational, professional, conservative individuals who are absolutely terrified by a phenomenon known as global "Peak Oil."

Highlighted by nathanielc7

Oil is increasingly plentiful on the upslope of the bell curve, increasingly scarce and expensive on the down slope. The peak of the curve coincides with the point at which the endowment of oil has been 50 percent depleted. Once the peak is passed, oil production begins to go down while cost begins to go up.

Highlighted by paulhoff

Oil is increasingly plentiful on the upslope of the bell curve, increasingly scarce and expensive on the down slope. The peak of the curve coincides with the point at which the endowment of oil has been 50 percent depleted. Once the peak is passed, oil production begins to go down while cost begins to go up.

Highlighted by ofelix

These estimate comes from numerous sources, not the least of which is Vice President Dick Cheney himself. In a 1999 speech he gave while still CEO of Halliburton, Cheney stated:

By some estimates, there will be an average of two-percent annual growth

in global oil demand over the years ahead, along with, conservatively, a

three-percent natural decline in production from existing reserves. That

means by 2010 we will need an additional 50 million barrels per day.Source

Cheney's assesement is supported by the estimates of numerous non-political, retired, and now disinterested scientists, many of whom believe global oil production will peak and go into terminal decline within the next five years, if it hasn't already. Source