Skip to content

The scourge of ‘peak oil’

February 22, 2012

Full Article at http://www.aljazeera.com/indepth/features/2011/07/201172081613634207.html

By Dahr Jamail

<snip>

“Peak oil is the time when the world’s production reaches the highest point, then starts back down again,” Whipple told Al Jazeera. “Oil is a finite resource, and [it] someday will go down, and that is what the peak oil discussion is all about.”

There are signs that peak oil may have already arrived.

<snip>

In 2007 the IEA issued a warning in their World Energy Outlook publication: “Although new oil-production capacity additions from greenfield projects are expected to increase over the next five years, it is very uncertain whether they will be sufficient to compensate for the decline in output at existing fields and keep pace with the projected increase in demand.”

The report added, “A supply-side crunch in the period to 2015, involving an abrupt escalation in oil prices, cannot be ruled out.”

<snip>

Professor Michael Bomford, a research scientist at Kentucky State University, said that, in the US, far more energy is used when food leaves the farm than the amount of energy required to grow it.

“The long supply chain with food makes consumers particularly vulnerable to spikes in energy prices,” Bomford told Al Jazeera.

Full Article at http://www.aljazeera.com/indepth/features/2011/07/201172081613634207.html

Add to DeliciousAdd to DiggAdd to FaceBookAdd to Google BookmarkAdd to MySpaceAdd to RedditAdd to StumbleUponAdd to TechnoratiAdd to Twitter

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: