The inevitable peak, and decline, of oil

[struggle4progress]

<snip>
It now appears that world oil production, about 80 million barrels a day, will soon peak. In fact, conventional oil production has already peaked and is declining. For every 10 barrels of conventional oil consumed, only four new barrels are discovered. Without the unconventional oil from tar sands, liquefied natural gas and other deposits, world production would have peaked several years ago.

Oil experts agree that hitting Hubbert’s Peak is inevitable. The oil laid down by nature is finite, and almost half of it has already been extracted. The only uncertainty is when we hit the peak. Pessimists predict by 2010. Optimists say not for 30 to 40 years. Most experts expect it in 10 to 20 years. Lost in the debate are three much bigger issues: the impact of declining oil production on society, the ways to minimize its effects and when we should act. Unfortunately, politicians and policymakers have ignored Hubbert’s Peak and have no plans to deal with it: If it’s beyond the next election, forget it.
<snip>

Fortunately, oil production does not suddenly stop at Hubbert’s Peak; rather, it declines steadily over time. But because production cannot meet demand, the price of oil will rapidly and continuously escalate, degrading economies and living standards. People complain now about gasoline at $2-$3 per gallon. After Hubbert’s Peak, $7 per gallon will seem cheap. Spending $150 to fill up the SUV? Ouch!
<snip>

Whatever non-oil transport technologies prove best, making the transition from our present systems will take many years. It took decades for the first automobiles and airplanes to evolve into effective systems, and decades to build the interstate highway network. We can’t afford to wait until Hubbert’s Peak occurs. We should begin now to plan and implement the new, non-oil technologies. If we don’t, our economy and living standard will be in serious trouble.

http://www.thestate.com/mld/state/news/opinion/8875162.htm

[LibertyorDeath]

1. "The oil laid down by nature is finite"

You would never know this by the way and the rate we use it.

Scary stuff.

Whom ever controls this dwindling supply of Oil controls the Planet.
This is the Neocons goal.

World Dominance thru the control of Oil.

[Oggy]

2. Why is it

after an idea or fact has been knocking around DU it then takes months or years before it finally gets picked up in by more mainstream media?

[muriel_volestrangler]

3. That's what being 'progressive' is all about

getting there ahead of the pack.