Oil Based Economy Running Out of Oil
The most recent edition of World Energy Outlook, published this past November. Yes, shale oil, tar sands, and other unconventional fuels will add to global supplies in the years ahead, and, yes, technology will help prolong the life of petroleum.
But, it’s easy to forget that we are also witnessing the wholesale depletion of the world’s existing oil fields and so all these increases in shale output must be balanced against declines in conventional production.
Under ideal circumstances—high levels of investment, continuing technological progress, adequate demand and prices—it might be possible to avert an imminent peak in worldwide production, but as the latest IEA report makes clear, there is no guarantee whatsoever that this will occur.
One thing is clear, we are an oil-based society and we are running out of oil. The clip below is a really good one on this topic and I highly recommend you take the time to watch it. This is no joke our economy is based on oil and it’s absolutely certain that we are running out.
I find myself wondering, how this will impact our lives in the very near foreseeable future. I can not imagine for the life of me how this is going to be a good thing. I would be really interested in everybody’s comments opinions and thoughts on the subject. Please enter them below.
Again let me thank you very much, for taking the time of visiting and I hope that you return again soon.
The Petro-dollar explained and why half million babies killed
Learn more about the petrodollar in the relationships of the United States government with the oil-producing nations of the world. The clip below is a good one and it should help you understand our position a little bit better. Take a few moments your day and understand why we are headed for a total disaster in my opinion.
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