Peak Oil: Why Drilling Solves Nothing
Peak oil is a heavily contested topic - no one really knows how much of the black gunk is down there, below the earth, except that there is a lot. It means the point where we have exhausted half of a natural resource and have hit our production peak - from there, production has only one way to go, down. We do know one thing about oil - we're using it far faster than it can ever be produced. 50 million years of natural decomposition went into the amount of oil we've already burned.
But I read this interesting tidbit the other day - and it reminded me again why the oil economy isn't sustainable, no matter how much we drill.
The world currently produces about 310 billion barrels of oil per decade. That amounts to about three times the current discovery rate of 100 billion barrels per decade.
Sorry, drilling advocates. That includes that's already in ANWR, and on our coastlines. We're producing far more than we are discovering.
Peak oil isn't merely the top of a mountain and beginning of a slow decline. It's more like a cliff, and if we get too close, us, our economy, and our livelihoods will all go tumbling down.
How can we avert this disaster? One way - investing in renewable, clean energy technologies and increased efficiency before we hit peak oil, so that our economy can transition before feeling the real bite.
Want to learn more about peak oil? See this fantastic PDF presentation from the good folks at the Oil Drum.





