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Have we reached peak oil and can we survive it?

4287 Views 41 Replies 23 Participants Last post by  LeafStew
Some experts in the oil industry believe world oil production peaked in 2005 or 2007, even the most optimistic predictions go to only 2020. I have really been thinking about peak oil and sustainability lately, and I think the US is in for some VERY hard times in 5 to 10 years. I see NO efforts for oil conservation and it might be too little too late by the time people even begin to use alternatives in any significant way.

My hope for the future comes from nanosolar and nuclear energy but we still need an oil based economy to make that transition, it would take at least a minimal of 20 to 40 years to make a transition on that scale and we only have 5 to 10 years from peak oil AT MOST. Our whole economy is based on unending growth and that is unrealistic with the finite resources we have, this includes water, coal, and other non-renewables too. At worst, our entire civilization could collapse and this has happen before to the Romans and the Mayans.

We might have to go to a more localized lifestyle in the future and that's if we make a peaceful transition. I have been trying to factor peak oil into my career choice and future expectations. Maybe emerging technologies can get us out of this mess like nanotechnology, solar, nuclear, bio, geothermal, wind, and natural gas.

What do you think will be the implications of diminishing energy resources on gobalization, US economy, and your personal future?
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Not only is there significant doubt about "peak oil production", but there is an increasing amount of evidence showing support for abiotic oil production... that oil is actually produced by the mantle itself.
I would love to see any citation for this you might have. I am interested in reading up.

I think we can absolutely survive peak oil as a species, I just don't think most of the species can survive and certainly not in our current lifestyle. Oil production has artificially increased the carrying capacity of Earth and without it at affordable levels (or a suitable replacement) we are looking at a die-off event, in my humble opinion. Algae biodiesel is the only way I see the world pulling out of this one. Unless some real, honest to goodness innovation takes place and produces a new energy source.
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I saw in science show on the national tv that some scientist were testing in Ontario new solar panels that were much more efficient than the one before. They had multilayers that could capt different wave length to maximize the intake. I think they are near 30% uptake if I remember correctly.

As for energy companies 4 of the top 5 companies in the Global Fortune 500 are oil company (also 8 of the first 15 companies by revenue worldwide; 10 if you count that Volkswagen and Toyota are also in the top 15 and their product rely heavily on gas):
Global 500 2011: Global 500 1-100 - FORTUNE on
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