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Peak oil production coming much sooner than expected

May 25, 2010

From Grist

A storm is quickly approaching, and the world is not ready for it.

The permanent end of the era of cheap oil is coming as soon as next year, according to a raft of official reports that have made their way into energy media over the last few months. Governments are now beginning to acknowledge the looming crisis. Yet, perhaps because they waited too long to prevent it, leaders are not yet alerting the public.

The entire world economy is built on cheap oil. A permanent oil production shortage will thus lead to The End of The World (As We Know It). What will come on the other side of this — will it be good or bad?

Public unaware

Except for a few stories in financial pages such as London’s Financial Times, this earth-shaking news has yet to reach the Mainstream Media. While “Peak Oil” researchers have long warned of approaching oil shortages, the difference now is these dire warnings are being validated by the highest government and oil company officials. Yet, no political leader has had the courage to make a major announcement to prepare the public for what lies ahead.

This public blindness is tantamount to the isolationism that gripped the U.S. in the years preceding WWII. While the highest government leaders did their best to prepare for inevitable war, they were hamstrung by the resistance of a public unable to accept what really lay ahead. Similar to today, some politicians advanced their own careers by feeding on the public’s desire to believe no coming storm could ever reach them. Yet, the storm came anyway.

From Grist

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