Wednesday, July 4

Peak Oil - exposed

After George Monbiot's depressingly reactive and uncharacteristically ill-researched article denouncing Peak Oil, called False Summit, I must point to a leaked report by the Australian Government (Report 117) that confirms not only Peak Oil is completely factual, but is also a real concern to the institutions of power.  The kicker of the report is here:
"The oil production prospects of different countries and regions vary immensely. However, on balance, when an aggregation is done across the globe, it is predicted that world production of conventional oil is currently just past its highest point (conventional oil is oil pumped from wells on land or in water less than 500 metres deep). A predicted shallow decline in the short run should give way to a steeper decline after 2016. However, deep water and non-conventional oil production are growing strongly, turning a slight decline into a plateau for total crude oil (non- conventional oil is heavy and viscose, as in the Venezuelan deposits, or indeed tar- like, as in the Canadian tar sands)".
They even provide a graph to help you understand it with inescapable clarity...

Global Oil Production and Prediction courtesy of the Australian Government

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