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Today's Buzz:

Wednesday, May 17, 2006

Peak Oil will change our lives

One of the most important articles you can read today (or even this week) is Erik Curran's "Peak Oil will change our lives" published on Monday in the Energy Bulletin.
Dozens of leading petroleum geologists as well others in the oil industry and in government have agreed that we are nearing the twilight of cheap oil. Chevron has launched a campaign to inform the public that oil is depleting. The U.S. Army is planning for permanent oil shortages. Even the U.S. Department of Energy put out a 91-page report on the subject in February 2005.

"As (oil) peaking is approached," the report said, "liquid fuel prices and price volatility will increase dramatically, and, without timely mitigation, the economic, social and political costs will be unprecedented. Viable mitigation options exist on both the supply and demand sides, but to have substantial impact, they must be initiated more than a decade in advance of peaking."
Read the whole article. And also check out the "Peak Oil Primer" that the folks at the Energy Bulletin have put together.

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