Heinberg on Peak Oil and Your Backyard

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~ by Peter Lach-Newinsky on October 2, 2011.

3 Responses to “Heinberg on Peak Oil and Your Backyard”

  1. He’s right.

    We are not running out of oil. There are over a trillion barrels left in the world. But we are reaching a production peak in which after that peak, no economic growth will occur. Why? Because all of the cheap oil will be gone and because oil permeates our whole existence. Oil is in everything. Once we understand that we will realize that our stock market(a market that depends on 20 billion barrels a day in America) will seize to exists. Basically, which is more real, these paper stocks with assumed values or the oil in the ground which is diminishing every single day.

    When we think of oil, we picture the gas tank analogy. When the needle reaches E for empty is when we are in trouble. The world does in fact have a trillion barrels of oil left to produce. The real analogy is like a Pearl Harbor reconnaissance plane flying its mission over the ocean. The plane flies as far as it can for as high as it can. The pilot fulfils the mission of aerial photography of enemy positions. At a certain point though the pilot knows he must turn around at the HALF WAY point of the gas gauge to make it back home. When the needle reaches at half the tank the pilot MUST RETREAT and DESCEND to make it back to base. When the world has produced as much oil as it ever can in one day (peaked), when it has flown as far as it can for as high as it can the world economy MUST RETREAT and DESCEND.

    • CORRECTION: 20 MILLION A DAY!!!! SORRY

      • Thanks for the comment. Heinberg, many other Peak Oil theorists and now even the US and German military machines are pointing out that whether it’s a trillion barrels left or 20 million a day (?) of oil isn’t the point. The point is the deep social ramifications of ‘Peak Oil’ for our economies hooked on oil. Peak Oil is the point, now most probably reached globally, at which no new high quality oil resources are being found and demand begins to outstrip supply. Both gradually lead to (a) skyrocketting oil prices (b) rising prices of all oil-intensive commodities like food, minerals, manufactured articles, travel etc and thus inflation (c) the end of economic growth and thus more unemployment, class struggle, social unrest, questioning of capitalism as an economic system (d) frantic efforts to tap new, even more ecologically destructive fossil fuels like coal seam/shale gas, tar sands, deep sea drilling, arctic drilling etc (e) international resource wars for the shrinking resources. We are beginning to see all these phenomena already appearing… P.

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