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The world peaked at 74.3 million barrels per day in May 2005. The two-year decline to 73.2 million barrels per day produced a doubling of the price of crude. Later this year, we fall off the oil-supply cliff, with global supply plummeting below 70 million barrels/day. Oil at merely $100 per barrel will seem like the good old days.
Within a decade, we'll be staring down the barrel of a crisis: Oil at $400 per barrel brings down the American Empire, the project of globalization and water coming through the taps. Never mind happy motoring through the never-ending suburbs in the Valley of the Sun. In a decade, unemployment will be approaching 100 percent, inflation will be running at 1,000 percent and central heating will be a pipe dream.
In short, this country will be well on its way to the post-industrial Stone Age.
After all, no alternative energy sources scale up to the level of a few million people, much less the 6.5 billion who currently occupy Earth. Oil is necessary to extract and deliver coal and natural gas. Oil is needed to produce solar panels and wind turbines, and to maintain the electrical grid.
Ninety percent of the oil consumed in this country is burned by airplanes, ships, trains and automobiles. You can kiss goodbye groceries at the local big-box grocery store: Our entire system of food production and delivery depends on cheap oil.
If you're alive in a decade, it will be because you've figured out how to forage locally.
The death and suffering will be unimaginable. We have come to depend on cheap oil for the delivery of food, water, shelter and medicine. Most of us are incapable of supplying these four key elements of personal survival, so trouble lies ahead when we are forced to develop means of acquiring them that don't involve a quick trip to Wal-Mart.
If you're alive in a decade, it will be because you've figured out how to forage locally.
Originally posted by biggie smalls
reply to post by DimensionalDetective
There's another thread on ATS mentioning how we're going to sell Iraqi oil at $50 a barrel...This will line the oil companies pockets with green
Originally posted by US Monitor
First off the fictional American Empire won't be affected since it doesn't exist.
Originally posted by biggie smalls
reply to post by Res Ipsa
Funny, but I didn't.
U.S. TO BEGIN SELLING IRAQI OIL FOR $50 PER BARREL
Why don't you research instead of calling people liars. Thanks.
The $50/barrel price would be only for the US and the invading coalition forces (ie UK and a few others). That's not saying a whole lot. Considering oil only hit $50/barrel in 2004, that price isn't much lower.
Originally posted by Lucid Lunacy
I'm pretty sure there isn't a peak oil crisis, in the sense that the actual oil is running out. I think there is a peak oil in the sense that the oil industry controls the oil, and therefore dictates the price.
Perhaps they are creating the illusion of peak oil? I dunno, but I think the prices will increase per barrel continuously as long as there is a demand.
Originally posted by GradyPhilpott
we get realistic and start exploiting our own resources.