Post by marchesarosa on Apr 3, 2012 20:32:34 GMT 1
Peak Oil Doomsayers Ignore Human Ingenuity
Tuesday, 03 April 2012
Garry White, The Daily Telegraph
Oil is running out and it won’t be affordable for much longer, advocates of “peak oil” theory argue. But with new technology revolutionising the way energy is generated, are fears of an unaffordable energy crunch now being overplayed?
The theory behind peak oil was described by American Marion King Hubbert, a former geophysicist with Shell, in the 1970s. It is too simplistic to describe it as a theory that claims oil is running out. In fact, peak oil is all about the depletion of oil fields.
The theory claims that production of oil rises then falls into terminal decline after hitting a level of maximum production. The theory can be used to describe individual oilfields, production in a specific country or, indeed, the world. The US hit peak oil production in the 1970s.
Many peak oil disciples use the theory to paint pictures of doomsday scenarios. As oil production falls and it gets scarcer the cost will rise and rise with disastrous consequences for the global economy and everyone’s wealth. There will be a time where energy will get so expensive that all but the very richest will not be able to travel as the cost becomes prohibitive. We will be less mobile and localised with food sourcing and manufacturing. A globalised world will end, advocates argue.....
more
thegwpf.org/energy-news/5365-peak-oil-doomsayers-ignore-human-ingenuity.html
Tuesday, 03 April 2012
Garry White, The Daily Telegraph
Oil is running out and it won’t be affordable for much longer, advocates of “peak oil” theory argue. But with new technology revolutionising the way energy is generated, are fears of an unaffordable energy crunch now being overplayed?
The theory behind peak oil was described by American Marion King Hubbert, a former geophysicist with Shell, in the 1970s. It is too simplistic to describe it as a theory that claims oil is running out. In fact, peak oil is all about the depletion of oil fields.
The theory claims that production of oil rises then falls into terminal decline after hitting a level of maximum production. The theory can be used to describe individual oilfields, production in a specific country or, indeed, the world. The US hit peak oil production in the 1970s.
Many peak oil disciples use the theory to paint pictures of doomsday scenarios. As oil production falls and it gets scarcer the cost will rise and rise with disastrous consequences for the global economy and everyone’s wealth. There will be a time where energy will get so expensive that all but the very richest will not be able to travel as the cost becomes prohibitive. We will be less mobile and localised with food sourcing and manufacturing. A globalised world will end, advocates argue.....
more
thegwpf.org/energy-news/5365-peak-oil-doomsayers-ignore-human-ingenuity.html