For over 100 years we have relied on oil as a cheap, energy dense and portable form of power. Many advances such as plastics, ink, medicine, fertilizer, crayons, bubble gum, soup, glass and tires are heavily dependent on cheap oil. There is only a finite supply of oil in the world, and demand is increasing as the third world industrializes.
Peak oil, in a way, has already come: many countries and many production techniques have peaked, fortunately as demand has increased so has technology and our willingness to explore across the globe for new pockets. We’ve had to dig deeper and get creative in squeezing oil out of unconventional sources. There are still sources to tap, they’re dirtier, offer lower returns on energy invested and much harder to get at but they’re there. Unfortunately, the oil will eventually become too expensive and too sparse to viably meet our current energy demands and then we’ll need something new. Here’s our review on the subject.
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Tags: Ron Paul Energy, Oil Infographic, Peak Oil, Oil Reserves, U.S. Oil Boom, Oil Facts