Report urges fuel revolution - CNN.com
Quote:
Production rates are declining at oil fields and demand continues to rise and oil companies are facing "dwindling opportunities to increase reserves and production."
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This report by the IEA is the recognition the we passed peak oil. Suddenly with no sign of peak we are moving down hill
IEA Report
Quote:
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The production-weighted average decline rate worldwide is projected to rise from 6.7% in 2007 to 8.6% in 2030 as productions shifts to smaller oilfields, which tend to decline quicker
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What does 6.7% decline means :
100
93.3
87.05
81.22
75.78
70.7
65.96
61.54
57.42
53.57
So in 10 years production will be down 50%. Oil does not sit like a huge reservoir under ground so we can keep producing 80 million barrels a day until we run out. Oil just gets harder and harder to extract so we are maybe hundreds of year away from really ending producing. But we will be producing 10% of what we are today.
Add Export Land Model to the problem :
Export Land Model - Wikipedia, the free encyclopedia
So there will be no "we" producing. There will be some producing, and they will only be able to keep it for themselves if they have enough weapons
See Iraq. Think USA will let them sell oil to anyone else ?
I am sure that we can live very well consuming less oil. We will not, the ones in power will do everythnig to maintain that power, no matter if the system collapses :
http://www.chrismartenson.com/crashc...r-17a-peak-oil
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One day there will be so many houses, that people will be bored and will go live in tents. "Why are you living in tents ? Are there not enough houses ?" "Yes there are, but we play this Economy game"