cjwirth

High Steel Prices: A Preview of Peak Oil

Kingsdale is right. As soon as global oil production starts to decline, probably this year, the price of oil will skyrocket and recession will not cause prices to drop. Oil is the base of manufacturing and transporting goods, including food. Global demand for oil is increasing at about 2 percent annually. Development in the Third World will use all of the all that is pumped. In a few years global oil production will decline at 4 percent or more annually. I disagree, however, that alternatives could have provided a system for transportation that could have saved us. Hirsch offers no evidence to support this contention. The 1977 National Academy of Sciences study on energy was stumped with this problem and there has never been a plan for how to develop such a transportation system. My research indicates that alternative energies will accelerate oil depletion and give us little that is useful in return (this report is free and will be updated by Monday): www.peakoilassociates....