Wednesday, June 04, 2008

Say goodbye to suburban living

The June 9th issue of Macleans magazine has a good cover story titled After Cheap Oil.
I guess I'm mainly impressed because - finally - peak oil is in the mainstream media, and blurbs like You won't be able to eat, travel or live as you do now. Say goodbye to the age of plenty are appearing on the covers of national popular magazines.

Here are a few good passages:

Last week, the International Energy Agency said it will re-examine the oil supply in 400 major oil fields around the world - a sobering acknowledgement that there may be even less oil than once thought. Even industry insiders are waking to the idea that the world is nearing the supply wall. Last year, former U.S. energy secretary james Schlesinger declared the battle is over, the peakists have won.

Peak Oil theory...describes the point at which the supply of oil can no longer keep up with the world's growing demand... When supplies run short oil prices don't just go up, they skyrocket. A 2005 U.S. government report concluded that a four percent shortfall would result in a 177 per cent increase in oil prices.

P.S. - none of this should be new to anybody. Heck, Hubbert Theory goes back to the 1950's.

And this really terrible picture comes from this story.

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