Oil Production Declining

No more fuel, why? Simple, oil production is peaking and the decline is eminent.... One of the most knowledgeable researchers on crude oil and fossall fuels tells us why we are running out and what we can do about it.... read his views on oil production.

Here are some noteable quotes of the worlds experts. Brought to us from Richard Heinberg...

“Peak Oil – the point when world production reaches it’s maximum and begins to decline” – may occur within this decade. As global demand exceeds supply, oil will become increasingly scarce and expensive.

The implications of Peak Oil are profound. Oil provides close to 40 percent of our society’s primary energy (over half of which is imported) and 95 percent of our transportation fuel.

Fossil fuels are used in growing food and in making everything we buy.

“Our response to Peak Oil has major consequences for the U.S., the rest of the world and, most importantly, future generations.”

Solutions to Peak Oil Production range between technological miracles and conquest of the Middle East, all in an attempt to maintain the status quo.

What is required instead is a rapid change to a low-energy lifestyle. Such a way of life is not only necessary, it is also highly desirable.

What Are the Experts Saying?
“The world is producing 82 million barrels of oil a day, globally. I think that’s all we’ll ever have.…The world is fundamentally changing as far as energy is concerned.”

– T. Boone Pickens, ex-CEO Mesa Petroleum

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“I expect oil to reach $182 per barrel within the decade.”

– Matthew Simmons, oil investment banker, and advisor to the Cheney Energy Task Force ----

According to the Association for the Study of Peak Oil (ASPO), global oil production is expected to peak around the year 2008:

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“We now find one barrel [of oil] for every four we consume. The general situation seems so obvious. …How can governments be oblivious of the realities of discovery and their implications…given the critical importance of oil to our entire economy.”

– Dr. Colin Campbell, ASPO president, in his testimony to the British House of Commons

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“[The Middle East] is the frontline of the Third World War, a war that has already influenced every single individual in the Middle East…[and] sooner or later, it is bound to overspill and come to impinge on the lives of most world-citizens.”

– Ali Bakhtiari, Director of Strategic Planning, Irania National Oil Company

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