MaxS said:
I am really curious as to what the minds on this forum think about Peak Oil.
"Peak Oil" is the name of a book and though he presents his predictions with some confidence, the reality is that there is still a lot of controversy over the concept.
Set to hit around 2010, Peak Oil seems to get an insanely small amount of attention, especially considering that the 1970's oil crash was due to just a 5% decrease in oil production.
Well - 2010... 2020...2030? Geologists/economists don't all agree on when supply will peak. I was in elementary school 20 years ago and heard that in 20 years (today), we'd actually
run out of oil. So it doesn't get much attention because few people actually buy it.
After Peak Oil, it is predicted that (conservatively) oil production will drop by 3-6% a year every year - irreversibly.
Conservatively according to
whom? One of the things often left out of this discussion is the fact that there is a lot of oil that is mine-able, but it isn't economical to mine it. When oil prices hit something like $75 a barrel, available reserves will suddenly increase by quite a bit when these resources become economical to tap. In addition, oil production may well level off slower and not start to fall for quite some time.
This spells complete global disaster! Perhaps the end of civilization as we know it...
Well, that's a little bit overly dramatic. We're near the point today where nuclear power is again going to be politically viable. If we start soon, within 20 years we could have a significant increase in our nuclear power production. In addition, if a "complete global disaster" was looming, we'd up our coal production and that would easily offset the loss of oil (you can even make gas from coal).
Basically, MaxS, don't get suckered in by a guy who'se main purpose is selling a book.
loseyourname said:
A good short-term alternative is actually natural gas. There are plenty of deposits that are untapped, especially in Russia. The main problem is transport. The gas needs to be liquefied for transport and we don't have enough regasification (don't you just love that word) units to import very much. We'll need to build more.
As always, the problem is more economics (and politics) than anything else. As gas prices increase, the incentive to tap those natural gas resources increases. It'll be done.
Overall, I'd say if we don't make radical changes over the next 50 years (yes, I know that's a contradiction) in the way we use energy, we'll be in for some serious problems. This doom and gloom in 5 years stuff is BS.