END OF THE PETROLEUM SUPPLY. POSSIBLE CONSEQUENCES
END OF THE PETROLEUM SUPPLY. POSSIBLE CONSEQUENCES

Summary/Abstract: With a price in oil that even in the most fantastic scenarios would economical decidents and analysts not dare imagine, people have started to question themselves more and more acutely: Aren’t we somehow heading towards disaster? If our developmental method is based on false premises, regarding cheap and never ending energetic resources, what is it there to be done? Is oil really going to fade away? The classical prevision “we still have oil for years to come” is based o the fact that there is a constant need for oil. Unfortunately, there is no such case. New big consumers have arrived on the market lately (China and India, especially) and they use up as much as they can. According to economic evaluation, the way all resources get used up one day, oil extraction started and it will soon end, similarly. Between these two points production passes through a peak. Specialists in field call this point “Hubert peak” after the name of the geologist who first calculated this. This peak is produced on the average when half of the oil quantity has been extracted and the data we have bring us to the conclusion that this point is imminent.

• Details
• Contents