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Publication: Living Green
Peak oil.

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            LIVING GREEN - Monday, July 14, 2008

Good morning, 

I read a story just this morning that Iran has announced 
the discovery of new billion-barrel oil field on their 
territory. This, and recent discussion of the oil in ANWR, 
more expensive oil pools under the ocean floor in the Gulf 
of Mexico and even less reliable resources in the form of 
the Canadian oil sands and the oil shale fields of Colorado 
and Wyoming have prompted me to mention a phenomenon that 
has been much debated recently. Peak oil. 

Please scroll down to read more about this and what it means 
to you. 

Thanks for reading, 

Your Living Green editor 


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If you haven't heard the term "Peak Oil" yet you will hear 
about it...more and more frequently in the years to come. 
In the 195os, geophysicist Dr. M. King Hubbert predicted 
that oil production in the USA would reach its peak around 
1970 and then go into a state of decline. He was absolutely 
right. He also predicted that global oil production would 
peak around the late 90's/early 21st century.

Dr. Hubbert also warned that not only would the world have 
to face declining oil production, but also the increasing 
cost of extracting what oil remained after the readily ex-
ploitable oil fields had gone into production decline. There 
is no doubt that the cost of oil production in recent times 
has been huge. 

Are the exorbitant prices at the pump the result of this, 
or of market speculation and short-sightedness in oil pro-
specting and production? 

While you are thinking about that consider this: 

We are consuming more oil globally than ever before and the 
trend will continue. 

Most plastics and other indispensible tools of the modern 
world like fertilizer are made using oil. 

Oil production and consumption have serious negative impacts 
on the environment. 

It is not a renewable resource. 

Is peak oil and the huge economic impacts that will follow 
it right around the corner as Dr. Hubbert predicted? Or will 
new resources like the Gulf of Mexico and ANWR, and new tech-
nologies like super-deep drilling put it off for another 20, 
30 or 50 years? 

These are important issues to think about. Yes, there are 
renewable/alternative energy programs in place; but given 
the major role that oil plays in our lives; whether these 
new, cleaner technologies can be broadly implemented before 
we hit the real crunch is very questionable.

The time is now to start thinking about and making changes 
to a less oil-centered and oil-dependent life. 


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