Further Research into Oil and a Disturbing Find on Peak Oil
As you all know I’ve started researching about oil and how to profit from the idea that the price is just going to keep on rising.
Today I spent several hours reading what seems to be a 5 million word essay on how we’re running out of oil. There were links to probably 75 other articles supporting this claim. The site called Life After the Oil Crash paints a very dismal picture for the future. For the few of you that have better things to do on a Saturday evening, here are a few salient points.
- We took 125 years to consume the first 1 trillion barrels of oil and 30 years for the next trillion.
- We’ve peaked in oil production.
Demand is increasing by 2%/year while output is decreasing 3%/year. - Renewal sources of energy aren’t as good at producing energy as oil is, and will
barely dent the dependancy on oil over the next several decades - “Big Oil” already know about this and are trying to do something about it. In fact a lot of them own alternative sources of energy companies.
- Oil will hit $200 per barrel and gas prices $10/gallon at the pump in the near future.
- The so-called war on terror will last 50 years because thats as long as the major oil-producing countries have to produce most of their oil.
- Once we run out, it’ll end civilization as we know it.
Thats what the site says anyway. The incredibily high fuel prices will affect all major aspects of our society and might cause a global economic meltdown.
I though it was an exceedingly well-researched report and after going through countless of supporting articles I can’t really find a whole lot to dispute. Of course I’m optimistic in my belief that we’ll discover an alternative to oil and life will be peachy. However I’m still going to hedge my bets and continue my efforts to find a way to invest in oil. [Kind of like the profound "Trust in God, but lock your car!" phrase]
If you’re interested in learning more without spending your whole weekend, I recommend watching this DVD – The End of Suburbia: Oil Depletion and the Collapse of the American Dream
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December 12th, 2005 at 8:23 am
I’ve read that article. Very ominous. I’m not sure what it implies we should do, though. Live like pathtofreedom.com and invest in gold?
Great blog!
December 13th, 2005 at 10:30 am
nonsense. Brasil goes on on alcohol, cars can be run on liquid gas, we can make fuel from coal, who needs oil?
December 13th, 2005 at 10:24 pm
liquid gas & coal are not viable alternatives. they’re in the same boat as oil.
growing crops for alcohol just makes the crops more expensive because there’s now a huge demand for fuel. Do you use the crop for food or fuel???
please take the time to read the article before you critize it.
March 13th, 2006 at 4:06 pm
Interesting that you should bring that up. I actually drive a car that runs off of recycled vegetable oil. Yep, that’s right. I get the oil from restaurants when they dump it, and I filter it out to get all the gunk out, then pour it into my secondary tank. Now, to prove to you that I’m not a complete nut case, I DO NOT believe that used veggie oil is the answer to our oil problems, but you should know that the first Diesel engine was actually made to run off of peanut oil!
October 3rd, 2006 at 10:35 pm
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October 31st, 2006 at 10:43 am
Personally I think the peak oil thing is a little overblown. Yes, oil prices will go up as we exhaust supplies of easily recoverable oil.
The higher prices will make the recovery of more difficult to produce oil, as well as coal gassification financially feasible. It will also spur investment in other alternative energy technologies. Of course at some point we’re going to have to find a way to dispose of all this loose carbon…
I am not saying the transition will be painless, it won’t be, but it doesn’t need to spell the end of the world.