Peak oil - Mar 12
by Staff
Click on the headline (link) for the full text. Many more articles are availa through the Energy Bulletin homepage
Paterson, 53, is legally blind, and although documentation is scarce, it is widely believed that he would be the nation's first blind governor.
When oil costs are plotted over time, the 1980 oil crisis -- prompted by Ayatollah Khomeini's Iranian revolution -- stands out as a sharp spike on that price curve. Both before and after that moment, however, oil supplies proved largely sufficient to meet rising global demand, in part because the Saudis and other major producers were capable of compensating for declining Iranian production. They simply increased their output substantially, dumping a surplus of oil onto the global market. Aided by the development of new fields in Alaska and the North Sea, prices dropped precipitously and stayed low through the 1990s (except for a brief spike following the Iraqi invasion of Kuwait in August 1990). Nothing similar is likely to happen now. For the present surge in prices -- crude oil costs have risen by 74% over the past year -- no such easy solution is in sight. To begin with, we face not a sudden spike, but the results of a steady, relentless climb that began in 2002 and shows no signs of abating; nor can this rise be attributed to a single, chaos-causing factor in the energy business or in global politics. It is instead the product of multiple factors endemic to energy production and characteristic of the current era. There is no prospect of their vanishing any time soon. Three factors, in particular, are responsible for the current surge: intensifying competition for oil between the older industrial powers and rising economic dynamos like China and India; the inability of the global energy industry to expand supplies to keep pace with growing demand; and intensifying instability in the major oil-producing areas. ... Lurking behind soaring demand is another crisis entirely -- a crisis of production. The energy industry is now in the difficult process of transitioning from a world of easily tapped oil supplies to one in which mainly tough-oil options prevail. Those "easy-oil" supplies are the ones we've long been familiar with: the giant petroleum reservoirs in friendly, stable countries that provided most of the world's oil during the formative years of the Petroleum Age, stretching from the late nineteenth century until the Arab oil embargo of 1973. These mammoth reservoirs include Ghawar in Saudi Arabia, Burgan in Kuwait, and Cantarell in Mexico -- monster fields that produce hundreds of thousands or even millions of barrels of crude per day. In the last quarter-century, however, discoveries of "elephant" fields like these have been almost nonexistent. The world is, as a result, becoming increasingly dependent on smaller fields, often in remote, unwelcoming locations that require far more expense to develop and bring online.
In those days, smoking was more central to socializing than sharing food. ... The adult population had plumes of smoke coming out of its collective mouth and nostrils the way that our society had smoke coming out of its cities and mill valleys. Notice how cigarette smoking has waned in lockstep with the decline of American smokestack industry. Along similar lines today, it's compelling to see how NASCAR auto racing has risen to the level of a mania in early 21st century America, as the nation has reached its absolute zenith of automobile use. Even as the world approached the all-time global oil production peak -- with its ominous portents for social relations in this country -- Americans rallied obliviously to the weekend proving grounds of the stock-car gods. |
news by category
- Resources
- Regions
- Related Issues
featured content
- Authors
- Dan Allen
- Cecile Andrews
- Sharon Astyk
- Megan Quinn Bachman
- Albert Bates
- Ugo Bardi
- Dan Bednarz
- Rebecca Burgess
- Sarah Byrnes
- Molly Scott Cato
- Kurt Cobb
- Dave Cohen
- Erik Curren
- Lindsay Curren
- Andrew Curry
- Herman Daly
- Kris De Decker
- Rob Dietz
- Charlotte Du Cann
- Rahul Goswami
- John Michael Greer
- Nate Hagens
- Richard Heinberg
- Øyvind Holmstad
- Rob Hopkins
- Robert Jensen
- Brian Kaller
- Frank Kaminski
- Paul Kingsnorth
- Amanda Kovattana
- Ellen LaConte
- Gene Logsdon
- Kathy McMahon
- Asher Miller
- Bill McKibben
- Rick Munroe
- Tom Murphy
- Andrew Nikiforuk
- Dmitry Orlov
- Christine Patton
- Damien Perrotin
- Dave Pollard
- Joanne Poyourow
- Barath Raghavan
- Wayne Roberts
- Stuart Staniford
- John Thackara
- Gail Tverberg
- Tom Whipple
- More authors...
- Publishers
- ASPO-USA
- Civil Eats
- Climate Progress
- Culture Change
- Energy Bulletin
- Fernand Braudel Center
- Feasta
- Nourishing the Planet
- Oil Depletion Analysis Centre
- On the Commons
- OpenDemocracy
- OpenEconomy
- Post Carbon Institute
- Shareable
- Solutions
- The Daly News
- The Oil Drum
- Shareable
- TomDispatch.com
- Transition Milwaukee
- Transition Voice
- Yale Environment 360
- Yes! Magazine
- Media Publishers
- Reviews
- Web chats
The Post Carbon Reader
A must-read collection by some of the world’s most provocative thinkers on the key issues shaping our new century. Buy now and receive a 20% discount.







