Posted by
Jean-Marc Liotier
1046 days ago
(http://www.energywatchgroup.org)
Category: Economy & politics |
The German-based Energy Watch Group released its study saying that global oil production peaked in 2006 - much earlier than most experts had expected and will fall by half as soon as 2030. The report, which predicts that production will now fall by 7% a year, comes after oil prices set new records almost every day last week, on Friday hitting more than $90 a barrel.
The graphics featured in the report highlight the trends particularly well.
One major flaw of this report is that its warnings that extreme shortages of fossil fuels will lead to wars and social breakdown largely ignores the opportunities of substitution of fossil fuels by other sources. The price of portable energy may rise, but there is nothing that suggests that technological changes and shifts in resources allocation will not smooth over the risks of violent changes.
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Posted by
Jean-Marc Liotier
1046 days ago
(http://www.energywatchgroup.org)
Category: Economy & politics |
The graphics featured in the report highlight the trends particularly well.
One major flaw of this report is that its warnings that extreme shortages of fossil fuels will lead to wars and social breakdown largely ignores the opportunities of substitution of fossil fuels by other sources. The price of portable energy may rise, but there is nothing that suggests that technological changes and shifts in resources allocation will not smooth over the risks of violent changes.
1 Comment
Tell a friend
Bury
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This study was announced in an article by The Guardian : http://www.guardian.co.uk/oil/story/0,,2196435,00.html