Quote:
Originally Posted by SecretMaster
My personal suspicion is that we did hit Peak Oil (Peak Oil Theory models state that global oil production would peak around 2005-2010). And if we haven't peaked in production yet, we are about to. Which means that the cost of oil will just keep rising and rising. Come 2040 or 2050 there is going to be a tremendous crisis on our hands when the entire oil market collapses.
|
First off, great post
Your post covers much ground and I will try and break it down for the purpose of discussion.
I agree that oil has reached peak oil (though many argue it has peaked several years ago) and the only way of offsetting this is to open up vast tracts of potential oil reserves like in Alaska and Antarctic. Are we prepared to do this, in fact can we stop people using this oil? If Australia 'owns' 70% of Antarctica who is going to stop us drilling there? I foresee, at least short term, nationalist self interest causing conflict between the haves and have not's. Example scenario - Japan in financial crisis due to no oil reserves, starts drilling in the Australian claimed area of Antarctica how can we stop them? It's a potentially ugly situation ....
Oh ... and enjoy your holiday
