Jason Barton

Professional Information and Energy News

The IEA puts a date on peak oil production

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Of course there’s more oil out there than what we’ve already found, but it’s hard to believe that any of what’s left to be found can be extracted safely in ways that will be cost effective without increasing the price of petroleum. We’re talking about price increases that will make 2008’s $140 per barrel look thrifty.

Brazilian oil enthusiasts think they’ve just found Saudi Arabia off the coast of Rio. That may be true, but that oil is miles below the ocean’s surface, protected by several thousand feet of rock-hard salt. It will be neither easy nor cheap to get that petroleum from where it currently sits into our gas tanks.

As this report explains, we best learn to use a lot less energy, and also find some viable replacements for petroleum, or my nephews and nieces will have far fewer transportation and energy options available to them than we have available to us today. Continuing with business as usual, against which the article below warns, is simply selfish.

The peak-oil debate

Dec 10th 2009
From The Economist print edition

FATIH BIROL, the chief economist of the International Energy Agency (IEA), believes that if no big new discoveries are made, “the output of conventional oil will peak in 2020 if oil demand grows on a business-as-usual basis.” Coming from the band of geologists and former oil-industry hands who believe that the world is facing an imminent shortage of oil, this would be unremarkable.…

Read the entire article here.