Community | March 22, 2010 | 4 comments

Peak Oil In Four Years? Mobility And Economic Vulnerabilities

source: http://www.countercurrents.org/karlenzig180310.htm

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WakeUpPeople
Last week, a report was put out by a Kuwaiti research institution (chart above) forecasting global peak oil production by 2014. This follows a report last month by a broad-based British industry group that also predicted a global "oil crunch," or shortage of supply, by the same period.

Very few metro regions, cities or businesses are prepared for the impact of these potential global issues on their economies or finances, operating budgets and mobility.

I asked Richard Heinberg, author of numerous books about peak oil and other peaking resources (freshwater, fisheries, soil, etc.), if he agreed with the British industry report, which was partially backed by Richard Branson and the Virgin Group. Heinberg said that it appeared credible, and added that having a billionaire transportation industry CEO assert that we better get ready should make people at least take more notice.

Cities, households and the economy will be impacted, as will industries. Some industries will be hurt (agriculture, retail, petrochemicals) and some sectors could be positively impacted (smart growth planners, alternative transportation providers, "smart city" technology providers, alternative fuel producers, mixed-use and infill developers)

Whether it's bonafide peaking of global oil supplies, or a short- to medium-term "oil crunch," the initial result will be the same. Rapidly rising gas prices and price instability should become evident by 2013, or even earlier if there are any supply shocks because of natural disasters (hurricanes in Gulf), political events, war and terrorists acts.

So let's assume that these two reports, Heinberg, and the CEOs of companies such as Total and Shell oil have been correct--we will be facing at least a temporary oil crunch that drives prices up to or near levels reached in 2008 when oil hit $147 a barrel. What will likely happen and how can regions, cities and business in particular prepare?

more at link...
  1. groups:
    Community,   Green,   Humanism,   Quest For The Truth,   1 more
  2. tags:
    Green,  Alternative Energy,  Peak Oil
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4 comments // Peak Oil In Four Years? Mobility And Economic Vulnerabilities

  • good_stuff
    • 0
      good_stuff  

    • I think investing in Internet upgrades across the country would be a higher priority than building tons of electric cars, trains, and such.

    • 1 year ago
  • WakeUpPeople
  • Toughth
    • 0
      Toughth  

    • This is the next place that needs to be super regulated, The energy companys triggered bad economic times. it is time they were taken off of their don't touch and don't tax my profit pedistal. they could have paid for this health care bill out of their profits with tons left over.

    • 1 year ago
  • WakeUpPeople
    • 0
      WakeUpPeople  

    • Looks like that slope is going to shoot oil prices through the roof. Transportation will shut down because people just won't be able to afford it. Time to make energy infrastructure changes now.

    • 1 year ago
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