Friday, September 07, 2007

Oil Peak

It does seem like the planet has passed the Oil Peak.

I can say this from looking at good info on the worlds largest oil fields. The amount of oil coming out of them now all seems to be in decline.

There are four oil fields in the world which produce over one million barrels per day. Ghawar, which produces 4.5 million barrels per day, Cantarell in Mexico, which produces nearly 2 million barrels per day, Burgan in Kuwait which produces 1.7 million barrels per day and Da Qing in China which produces 1 million barrels per day.

Just google about any of these to see they are:

A) Producing less and less oil daily.
B) The speed they are producing less and less oil is rapid (steep decline)

No oil fields of this scale have been discovered and even if one were, it would take years to get it producing oil.

So what does this mean.

The amount of oil the world has available to burn each day, is now decreasing.

It is interesting to note that every single projection on the economy has the amount of oil we are using growing rapidly.

In short everyone is talking nonsense to you. And our economic system is a nonsense. Go and check out the facts yourself. This is the biggest issue we face and we can deal with it. The sooner we face upto its reality the easier it will be.

Global warming is not the issue, the decline of oil will help reduce greenhouse gas faster than any political framework we can put in place.

The value of oil will keep going up.

Because of this the following things I can guarantee will happen are

1. Remote working will become the norm

2. Local produce will become the norm, its going to be mad to keep shipping stuff across the planet.

3. Organic farming will become the norm (intensive farming is oil intensive and wont be able to compete on price)

4. Canals and Railways will be reopened and new ones built. (they are the most energy economic forms of transport)

All good stuff

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