Oil Shortage In Future

[Dr. Shane]

Steep Decline In Oil Production

Quote:

World oil production has already peaked and will fall by half as soon as 2030, according to a report which also warns that extreme shortages of fossil fuels will lead to wars and social breakdown.

The German-based Energy Watch Group will release its study in London today saying that global oil production peaked in 2006 - much earlier than most experts had expected. The report, which predicts that production will now fall by 7% a year, comes after oil prices set new records almost every day last week, on Friday hitting more than $90 (£44) a barrel.

I say huey!!!

Last year a huge oil and natural gas reserve was discovered by Chevron in the Gulf of Mexico and the Baku-Tbilisi-Ceyhan oil pipeline started pumping oil from the Caspin Sea the year before that. The vast coal reserves around the world can convert coal into oil for about US$40/barrel. If there are any shortages of oil it will be a man-made crisis.

That is not to say I don't think we should be getting away from oil. I think a lot of things should be done to reduce our energy consumption and move to cleaner energy. Better technology of for electric and hybrid cars is a start. Limiting the access of cars into metropolitan areas and forcing people to use mass transportation is another essential.