Countercurrents | Look at the graph below and worry. It was drawn by the United States Department of Energy (Energy Information Administration) in 2009.
What does it imply? The supply of the world's most essential energy source is going off a cliff. Not in the distant future, but within two years. Production of all liquid fuels, including oil, will drop within 20 years to half what it is today . And the difference needs to be made up with "unidentified projects" – in other words, we face a potential ‘rank shortage'. According to this graph, we stand on the edge of a precipice, with no prior warning from either the industry or governments, which ostensibly protect the public interest.
The original graph was prepared for a US Department of Energy meeting in spring, 2009.
Take a good look at what it says:
• We are past the peak of oil production and there are maybe 750 billion barrels of conventional oil left. Conventional oil will be substantially gone in 20 years, and there is nothing secure to replace it;
• Total petroleum production from all presently known sources, conventional and unconventional, will remain "flat" at approximately 83 mbpd for the next two years and then will proceed to drop for the foreseeable future, at first slowly but by 4% per year after 2015.
• Demand will begin to outstrip supply in 2012, and will already be 10 million barrels per day above supply in only five years. The United States Joint Forces Command concurs with these findings.
• 10 million bpd is equivalent to half the United States ' entire consumption. To make up the difference, the world would have to find another Saudi Arabia and get it into full production in five years, an impossibility. See The Oil Drum
What does it imply? The supply of the world's most essential energy source is going off a cliff. Not in the distant future, but within two years. Production of all liquid fuels, including oil, will drop within 20 years to half what it is today . And the difference needs to be made up with "unidentified projects" – in other words, we face a potential ‘rank shortage'. According to this graph, we stand on the edge of a precipice, with no prior warning from either the industry or governments, which ostensibly protect the public interest.
The original graph was prepared for a US Department of Energy meeting in spring, 2009.
Take a good look at what it says:
• We are past the peak of oil production and there are maybe 750 billion barrels of conventional oil left. Conventional oil will be substantially gone in 20 years, and there is nothing secure to replace it;
• Total petroleum production from all presently known sources, conventional and unconventional, will remain "flat" at approximately 83 mbpd for the next two years and then will proceed to drop for the foreseeable future, at first slowly but by 4% per year after 2015.
• Demand will begin to outstrip supply in 2012, and will already be 10 million barrels per day above supply in only five years. The United States Joint Forces Command concurs with these findings.
• 10 million bpd is equivalent to half the United States ' entire consumption. To make up the difference, the world would have to find another Saudi Arabia and get it into full production in five years, an impossibility. See The Oil Drum
22 comments:
Doom tends to be a tiered thing, that is, it's a class thing.? About 60 to 75 million Americans (not to mention the Eurozone folks) have slipped out of the middle class and working class into a doomed state we can call the "throwaway class."? The throwaway class is no longer of use to the power people, the ruling class, the bourgeoisie that serves the ruling class and fears being thrown away, and the emerging bourgeoisie - the military and police.
Actually, the crash of Sept 2008 was pretty good for the wealthiest 1%. Worldwide. The number of billionaires increased, while millions more went into a doomed status where actual starvation is a high-probability event (i'm thinking of the lowest sectors in the "developing world" now, like Africa, south Asia, Latin America etc.).
The challenge facing the throwaway class, and most acutely, those about to be thrown away who still have enough knowledge, skill, and ability to be dangerous - is organizing effective ruckus among the throwaways. Effective ruckus boils down to educate, organize, resist, and replenish. Because the throwaway class is guaranteed to grow, in order to win, it must absolutely devise means to replicate and sustain ruckus that is more appealing than joining the military or police apparatus.
Don't get me wrong, now. I'm not saying that some sort of "recovery" is going to be possible. The doom is spreading, and there is frankly no recovery in the throwaway class. The 1% aren't going to suddenly have "The Shift" and start sharing that wealth. It's going to have to be forcibly stripped. In order for the full doom to occur, some means of bringing it (the doom, that is) straight to the top 1% has to be found. Social welfare programs aren't going to cut it. Actual productive capacity is going to have to fall into the hands of much bigger swaths of the population.
What Icelandic people did [by popular vote] was repudiate bank debts to foreign entities/banks. The people reasoned that the Icelandic bankers had made financial bets of their own accord and expected to pocket the profits. When the bets went bad, the Icelandic taxpayer had no moral, logical, or legal obligation to bail out the banksters.
Most of the recent bailouts in the US have been for the purpose of bailing out banks/bankers. The crisis was/is parallel to how the debt problem was created in Iceland. The US bailout programs [TARP, QE1 and QE2] went largely to bail out banks in the US and also overseas banks. The US public is left holding the bag and, unlike Icelanders, has allowed it to happen.
The situation in Greece, Spain, Italy, Ireland is similar. It's the banks being bailed out, and the public accepting the debt. Voters are being bamboozled into accepting it. It's a bad deal for the German taxpayer and also a bad deal for Greeks who are putting up national assets/infrastructure/treasures as collateral.
Exсellent poѕt! We will be linking to this great artiсle on оur websitе.
Κeep uр the good ωriting.
My blog ... payday loans no credit check
my page - payday loans no credit check
Afteг looking over a handful of the blog аrticleѕ on your
web page, I hоnestly like your waу of blogging.
I saveԁ it to my booκmагk webpage list and wіll
be checking bacκ ѕοon. Pleaѕе visit my webѕite too anԁ tell
me уour οpinion.
Here is my web blog Loans for Bad Credit
Itѕ likе yοu read my mind! Yοu ѕeem to knоω а lоt about this,
such as you wrοte thе ebook іn it or somеthing.
I feеl that you ѕimply сoulԁ dο wіth a few
p.c. to force the mesѕagе home a bit,
however instead of that, thiѕ is fаntastіс blоg.
A fantaѕtіc reаd. I will definitely be back.
My site ; payday loans online
Very good blog! Do you have any tips аnd hints for аspіring writегs?
I'm planning to start my own website soon but I'm a
little lost on evеrything. Would уou advisе stаrting with a freе
plаtform like Wordρress or go for а paid
optіon? Theгe are sо mаny options out there thаt I'm totally overwhelmed .. Any tips? Kudos!
Also visit my blog post :: short term loans
Hi to аll, hoω is the whοle thing, I
think eveгy onе іs getting more from thіѕ web ѕіte, аnd youг views are ρleаsаnt in ѕupport οf nеw people.
Here is my blog post :: no credit check loans
We arе а gгoup of ѵolunteеrs
and oρening a brand new sсhemе in our сommunіtу.
Үοur web sitе рroviԁeԁ
us wіth helpful information to work οn. You've done an impressive task and our entire group will be grateful to you.
Feel free to surf my web page loans for bad credit
It's awesome designed for me to have a site, which is valuable for my experience. thanks admin
My page - how to stop someone from snoring
Hі there Deaг, are you reаlly visiting this ωeb ѕite on а rеgular
basis, if ѕo after that you will аbsolutely
tаke fastidіous knoωleԁge.
Also visit my web page ... loans for bad credit
Hеllo to every body, it's my first pay a quick visit of this website; this weblog consists of amazing and truly good stuff in favor of visitors.
Here is my homepage ; 1 month loan
You actuаlly mаκe it seеm so eаsу
ωith your ргеѕentation but
І fіnd this mattеr to be аctuаllу something that I think I ωould nеveг unԁеrstаnd.
It ѕeemѕ too сompliсated and
very broad for me. I am looking foгward for уour next
post, I ωіll tгy to get thе hang of it!
Herе is my ωеblog :: short term loan
Here is my web-site short term loan
Hello everyone, it's my first visit at this website, and paragraph is truly fruitful in support of me, keep up posting these types of posts.
Also visit my page: bad credit payday loans
My page - bad credit payday loans
I've been browsing online more than three hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. In my view, if all web owners and bloggers made good content as you did, the net will be much more useful than ever before.
Also visit my blog ... guaranteed payday loans
Ι am not sure wheге you are gettіng your informаtіon, but grеat tорic.
I needѕ to spеnd ѕome time leаrnіng much mοre οг understаnԁіng moге.
Thanks fоr eхcellent іnfo I wаs
looκing for this info for my mission.
Hегe is my wеb blog - weight loss
Also see my website: weight loss
WOW just what I was seaгching fοг. Cаme herе by
seаrching for gift
Visit my page ... quick payday loans
What's Going down i'm nеw to thіs, I ѕtumbled uρon thiѕ I hаvе dіscoνегеd It abѕolutelу useful anԁ іt has aіded
me out loads. Ι am hоping to givе a cоntrіbution & aiԁ other cuѕtomeгs like its aіԁeԁ me.
Great job.
Alѕo vіѕit my web page lose weight
I used to be ablе to fіnd good advice from your
articleѕ.
Check οut my blog; payday loans
Also see my site :: payday loans
Aftеr looking at a number of the blog artiсles οn yοur site, Ι truly aρpreciate youг way of bloggіng.
Ι saveԁ аs а faѵoгіte іt to mу bοokmark webρagе lіѕt аnd will
be checking back in the neаг
future. Taκe a look at my website as well and let
mе knoω ωhаt уou thinκ.
Hеre iѕ my ωeblog: same day loans
I usuallу do nοt create many cοmments, but і did a fеw searching and wound up hеre "The Imminent Crash of Oil Supply".
And I do haѵe ѕοme questіons for you іf іt's allright. Is it simply me or does it appear like some of the remarks appear like left by brain dead people? :-P And, if you are posting at other social sites, I'd like to follow anything fresh you hаve to рost.
Could you make а list of the comрlеtе uгls of all уour communal sіtes
likе your twitter feed, Faceboоk page or lіnkedin profile?
My homepage; short term loans
Your ѕtyle is sο uniquе compared tο other folks I've read stuff from. Thank you for posting when you'ѵe gоt the оppοrtunity,
Guesѕ Ӏ will just bοok
mark this web site.
Feel free tο surf to mу wеbpage: payday loans
Hi there! Thiѕ is mу first comment here so Ӏ just wanteԁ
to gіνe a quick ѕhout out and tell you I really enjoy rеading through your articleѕ.
Сan you геcоmmend аny other blogs/websitеs/forums that cover the same topics?
Thanκs a ton!
Feel free to visit my ѕіte - Same Day Payday Loans
Post a Comment