Has Peak Oil Become Self-Evident Yet?
Only electrification can save us — or maybe not.
Much of the big gains during the past forty or so years came from revisions. Adding numbers to proven reserves on paper only — ostensibly reflecting changes in drilling technology, moving previously uneconomic to exploit resources into the reserves category.
Does that put things in perspective?
Peak oil: Why the world can't break its fossil fuel habit
Climate change shifted the oil production debate from scarcity to demand. If countries do not deliver on ambitious green pledges, one expert predicts that production may peak within two years, forcing a chaotic decline.
QuoteAfter 15 intense years, we are arriving at the end of the fracking road," Turiel said. "We can keep up the mirage for an additional year or two, but afterwards the fall is going to be incredibly fast.