Will we have to face the consequences of 'peak oil' sooner rather than later?
It has been reported that Saudi Arabian oil reserves may have been over-estimated by as mucn as 40%. This statistic has been given further credence by news released over the last couple of days that the kingdom is going to build 16 nuclear reactors before 2020. It seems Saudi Arabia is already planning for a post-oil/life-after-oil future. Where does this leave a 'free market', world economy, entirely predicated on growth? Without oil what would drive this growth? Furthermore, why do politicians keep promising a return to growth when the end of oil is already looming large on the horizon?
There is no question that the United States is entirely too dependent on foreign oil. My opinion to your question is, yes, we will have to face those consequences sooner rather than later.
The United States has bowed to the more liberal opposition to drilling within the parameters of our boundaries.
i fear for what is coming....
i think that we will hear about low oil reserves to justify increasing the price of fuel but whether it is true or not is another story. in Cananda we have lots of oil but it is costing the enviroment dearly to make it usable.
If people consciously started to take steps to use less oil, the transition would be less discomforting when it happens. Also, those sorts of actions would help preserve the oil reserves for crucial needs.
The US has over a hundred years of KNOWN oil reserves and it is surmised that that number would double if exploration was permitted and encouraged. Oil IS a finite resource and we must develop financially viable alternatives, but it is pure stupidity to be sitting on trillions of dollars of oil and NOT capitalizing on it while we can.
There WILL be a time that oil is less important and will become worthless. Right now we could put hundreds of thousands of people to work within months and oil production would totally pay off our national debt. Why the government is preventing it is sheer idiocy.
by Bill Scherzer5 years ago
Why is America sitting on some of the largest oil reserves in the world until they become worthless?Why, with America sitting on some of the largest petroleum reserves in the world, is the strategy to sit on them until...
by couponalbum7 years ago
For how many coming years the oil reserves of whole World can serve humans?How much oil is left in world's oil reserves? Are we ready for an oil-free world?
by pisethz4 years ago
What will happen if a person spit on someone's face?Any penalty, consequences or punishment?
by peterxdunn7 years ago
It is being reported that Saudi Arabia's oil reserves may have been overestimated by as much as...40%. This would mean that the consequences of Peak Oil are going to hit home (a lot) sooner rather than later. What...
by Cape Wind Girl5 years ago
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