Tuesday November 22, 2005

Peak Oil & Thanksgiving Day 2005

energybulletin.net :

Peak oil and Thanksgiving Day are now linked. Eminent geologist Kenneth Deffeyes predicted two years ago that the peak moment of world oil production would occur on Thanksgiving Day 2005. Peak oil is a term for the point in time when world oil production will stop increasing and begin to decline. Deffeyes acknowledges that his prediction is just a guess based on extrapolated figures, but given all the unknowns, it may be as good as any other prediction about the end of the oil age.

One thing to remember about oil supply is that its peak will not resemble the Matterhorn. Instead it will look like a long rumbling plateau, bouncing around for a period before it slopes inexorably down. This is because, as oil prices go up, it becomes economical to produce oil that was bypassed as too expensive until now. This is dirty, heavy oil, oil that comes from tar sands or oil that is difficult to reach like arctic and deep off-shore oil.

Contemplating the end of oil is frightening, even terrifying. Every bit of our economy depends on cheap oil to function properly. No viable substitute lies waiting the wings. The end of oil means a radical change in our way of life. But since it is Thanksgiving, let's take a clear-eyed look at our situation and see if there is anything that we can be thankful for ...

(2005-11-22 13:05:31 SGT) [Energy] Permalink

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