the.orange.frog

Global Oil Production Peaking: What Happens Now?

We are reliant on 100 years on infrastructure slowly built up around oil. This issue is not if we have new technologies or if we will find new technologies, we have and we will, the issue is the change over. The dynamics of resource depletion are such that the oil remaining after peak will be used in approximately 10% of the time that it took to consume the first 50% of the resource. This means rapidly rising price post peak and a very short window in which we will need to implement new technologies on a massive scale. This will be expensive, this needs to be expensive in order to get the market moving on it, it will come at great economic cost to many, that said for some it will be a boon. Pay down your debt, this will be a turbulent period of great change and possibly a catalyst for resource wars (Iraq? Have we begun?) if history is any guide. I hope not.