New Paper: When Drill Holes Become Rat Holesgreenspun.com : LUSENET : Running on Empty - The Coming Petroleum Exhaustion Dieoff : One Thread
WHEN DRILL HOLES BECOME RAT HOLES:THE END OF OIL(AS WE KNOW IT)
Did you think there was a practically endless supply of crude oil in the world and that we would be knee deep in cheap gasoline for generations to come?
Forget everything you thought you knew about oil!
Gas prices have been reaching record highs nearly every day this year but newly emerging studies suggest the recent run-up in gasoline prices may just be a shot across the bow. The mother of all oil shocks could be just 5 or 6 years away!
Experts now say that regardless of how much crude remains in the ground, what really matters the most is when oil production passes its peak. That could happen soon worldwide. The marketplace could then treat oil as a scarcity driving prices skyward -forever.
What's more, the amount of energy produced per barrel of oil may soon be just equal to the amount used to obtain it leaving nothing left to run the engines of commerce...
-- Stuart H. Rodman (firstname.lastname@example.org), June 16, 2000