Peak Oil

By: André Angelantoni, President, Post Peak Living

Just as businesses eventually started to weigh in on climate change, they are now starting to speak up regarding the peak of oil production. Peak oil as a conversation is still where climate change was before An Inconvenient Truth.

Last week eight businesses as part of the UK Industry Taskforce on Peak Oil & Energy Security released a report on the possibility of the ruinous impacts of peak oil on the UK economy. Among the companies were ARUP, FirstGroup, Foster + Partners, Scottish and Southern Energy (energy giant), Solarcentury, Stagecoach Group, Virgin Group and Yahoo.

The graph below is their Best Case scenario for Global oil production — it's basically the curve I've been sharing over the last year with you; however, the financial crisis is forcing oil projects to be cancelled or delayed so the down slope will likely be steeper and may come sooner.

Personally, I would get the hell out of the UK. They've used up the North Sea getting only pennies for their precious energy (since it was sold before oil got expensive). They squandered that energy without moving completely to alternatives. Now they are 60 million people stranded on an island that can support just a fraction of that number. The graph below is of UK net oil exports. Notice that they are no longer exporters.

At least the United States still produces approx. 5 million barrels a day of oil. We can make sure agriculture is well supplied; remove the market system for food distribution and no one has to starve.

The report is available here:
http://www.arup.com/_assets/_download/4D6FF5E5-19BB-316E-408B503DFB26ADDB.pdf

Full write up and graph at The Guardian:
http://www.guardian.co.uk/environment/2008/oct/29/fossil-fuels-oil

Have you planned your garden and electric vehicle yet?