Friday, June 10, 2011

Peak oil and what counts as a "big" find

Andrew Sullivan displays a graph of new discoveries of oil.

It's important to note that this is new oil discoveries using the MOST OPTIMISTIC estimates of the finds. Further, it's important to note that on top of these discoveries of oil, there is a world that is using increasing amounts of oil. (In other words, it's not just about your country's use of oil, but the world's use of oil.)

Unless companies, governments, and academics are all in on a secret cabal, we have reached peak oil, and we're on the downward slope, and it makes all the current discussions (in the US) about gas prices being too high (even though it is much lower in real and relative amounts than compared to any OECD country) absurd.

In a future world that is post-peak, one needs to learn how to find new sources of energy and learn how to diminish energy consumption. ... or create even more serious inequalities between rich and poor.

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