Industrialized Cyclist Notepad


UK Oil production quietly plummeting

For any modern nation, a 22% decline in oil production would be significant over the course of a decade. A 22% drop over a mere 12 months ought to be front-page news, yet this radical decline has passed relatively unnoticed.

via UK Oil: Plummeting production vs media inattention | Energy Bulletin.

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The “Peak Oil Future” is a different idea than the “Running Out of Oil Future”. It’s not about volume, it’s about rate. That’s why it’s called a “Peak”, and not the “End”. In other words we can’t produce enough to sustain the economy and the world. Yes we will have oil, but not for all of us. Essentially the floating surplus that keeps the game going will evaporate and we will turn into a world where 7 billion people will want the very next barrel of oil coming out of the ground. It will be the end of cheap oil and the world will collapse.
When we think of the discoveries like off the coast of Brazil, they all sound so promising(15 Billion Barrels of Oil). Unfortunately the world uses 31.3 billion barrels a year so a discovery of 15 billion would only last a half a year. That’s if we could pump it fast enough, which we can’t. Even Saudi Arabia can’t do that from dry land.
When we think of oil, we picture the gas tank analogy. When the needle reaches E for empty is when we are in trouble. The world does in fact have a trillion barrels of oil left to produce. The real analogy is like a Pearl Harbor reconnaissance plane flying its mission over the ocean. The plane flies as far as it can for as high as it can. The pilot fulfils the mission of aerial photography of enemy positions. At a certain point though the pilot knows he must turn around at the HALF WAY point of the gas gauge to make it back home. When the needle reaches at half the tank the pilot MUST RETREAT and DESCEND to make it back to base. When the world has produced as much oil as it ever can in one day (peaked), when it has flown as far as it can for as high as it can the world economy MUST RETREAT and DESCEND.

Comment by informationforager




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