What is peak oil? How will it impact the future? How can we prepare for this challenge?
In this uncut video clip, Aaron Wissner of the Local Future Network interviews Megan Quinn Bachman of Community Service, Inc. about peak oil and the future.
We are entering the Peak Oil era. The growth of oil production is slowing, driving up oil and gasoline gas prices, firing inflation, driving unemployment, straining our global economy, and threatening to collapse our entire system. We are reaching Peak Oil and we are unprepared.
This was published earlier but with a spelling error. The incorrect version had 459 page views.
Duration : 0:6:41
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Gasoline gas prices are based on oil prices. Oil prices are determined by the oil supply and oil demand. Right now, both oil supply and oil demand are almost inelastic. As gasoline gas and oil prices go up, the demand stays almost the same. As the oil supply reaches peak oil or maximum production or extraction, the demand curve becomes vertical, or inelastic. The inelasticity of the oil supply and oil demand set things up for price volatility of both oil and gasoline. The seasonal changes in gas and oil prices we’ve seen in the last three years is probably due to reaching peak oil. This short screencast shows an inelastic oil supply curve, as well as an inelastic oil demand curve, and what happens to prices as the oil supply or oil demand change.
Duration : 0:1:16
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Our global economic system is dependent on a growing energy, and most importantly, oil supply.
Without growth in energy, the money supply can not grow (for long), which leads to a situation where the money supply stops growing, leading to economic recession.
When the USA hit its peak oil production in 1970, there were a series of economic impacts, including recession, abandoning the gold standand, high unemployment, and high inflation.
Global peak oil extraction appears to have happened in the 2005-2008 time frame, and had a large contributing effect on stressing the global economic system to the verge of collapse. The run up in gas gasoline prices during that same era impacted the economic system severely.
The US Government and many others have examined the global peak oil issue and have come to the sobering conclusion that severe economic impacts are inevitable, and we are unprepared.
Future oil prices may be driven up by the stagnant or declining supply, and then collapsing down as economic dislocation occurs.
This is the second part of a 30 minute talk by Aaron Wissner about our Local Future.
Duration : 0:10:5
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Kurtilein3 writes: Subscribe to: http://www.youtube.com/user/zthustra and check out his other videos.
his original upload can be found here: http://www.youtube.com/watch?v=NIrPrDNj5VM please rate / comment / favorite there
i am re-uploading this because i talked about peak oil on my channel in the past, i feel that an update is needed, and Zarathustra just uploaded the perfect update, so why re-invent the wheel? Also, i would like to support him, he definitively deserves a few more subscribers.
Original description by Zthustra:
Peak Oil theory predicts growth in crude oil production, a peak in production represented by a plateau and then a decline in production. The world entered the peak oil production plateu in May 2005 and and appears to have exited after peaking again in August 2009.
Zarathustra examines a chart found at The Oil Drum.
If growth had occured as might have been expected from previous decades, world crude oil production would be about 87 Mbpd. The production plateau was at about 73 Mbpd. Production is now under 71 Mbpd.
Are we past peak? Only time will tell!
http://www.theoildrum.com/
Duration : 0:5:0
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A Quick 3 minute video visually explaining Peak Oil, what oil is used for, and what the future may hold with regards to Peak Oil.
This is the culmination of my year-long thesis project looking at how Graphic Design can help communicate a complex topic such as Peak Oil.
Duration : 0:3:6
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See full film here:
http://www.booserver.com/projects.php?ProjectID=3030
September 2006
Is the age of cheap oil about to come to an end? According to many experts, we are about to reach the point of “peak oil” — the level at which supply can no longer keep up with demand. This, say the doomsayers, could send economies spinning into turmoil and up-end our comfortable, urban lifestyles. But others claim predictions like this are simply scaremongering. They believe supply will match demand for decades to come. So who’s telling the truth? ‘Peak Oil’ investigates.
Produced by ABC Australia
Distributed by Journeyman Pictures
Duration : 0:10:8
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Is the age of cheap oil about to come to an end? According to many experts, we are about to reach the point of “peak oil” the level at which supply can no longer keep up with demand. This, say the doomsayers, could send economies spinning into turmoil and up-end our comfortable, urban lifestyles. But others claim predictions like this are simply scaremongering. They believe supply will match demand for decades to come. So whos telling the truth? Peak Oil investigates.
Its an apocalyptic vision of the future. The Mad Max movies depict a world where petrol has become the most precious resource and society has broken down. In the real world today, there are sober warnings demand for oil could soon outstrip supply. The world is absolutely unprepared, claims energy consultant Robert Hirsch.
In the past three years, the price of oil has doubled. Some interpret this as yet another sign oil production is on the verge of peaking. Then there are those who believe we have already peaked. As petroleum geologist, Colin Campbell, points out, its been over 25 years since the world discovered more oil than it used. Since then, discoveries have been falling relentlessly despite amazing technological and geological advances. There is no reason to expect this downward trend to change.
By mapping out production of every major oil project in the world, geologists can predict future oil supplies. Chris Skrebowski, editor of the influential magazine Petroleum Review, has done this. His conclusions are bleak. Supply and demand remain pretty tight to about 2010. And after 2010, it really starts looking rather difficult. They dont add up very well. Chevrons own research shows that in 33 of the worlds 48 most important oil producing countries, production has already peaked. And; There are three billion new consumers in the marketplace the Chinese and the Indians, explains Ray Carbone from Paramount Options.
But optimists hope higher prices will make other ways of producing oil and alternative fuels commercially viable. The market will deal with this challenge, predicts Dr Brian Fisher from the Australian Bureau of Agriculture and Resource Economics. They point to the prospect of further discoveries and smarter technology that will extend the life of existing oil fields. There are claims jitters in the market are caused by political instability in oil producing countries, rather than a shortage of oil reserves.
If supply is going to keep pace with demand, the Gulf producers will have to massively increase their output. All through the Gulf, theres frenetic construction of new facilities. We have more than sufficient reserves to increase production in line with demand, pledges Saudi Oil Minister, Ali Al Naimi. But thats a statement rubbished by Colin Campbell; You cannot possibly believe such statements. Its absolutely beyond belief.
Saudi Arabia is believed to contain a quarter of the worlds known oil reserves. But since it expelled the international oil companies in the 1970s, its virtually impossible to get accurate information about the Kingdoms oil reserves. Basically, what theyre asking us to do is trust them, states Robert Hirsh. And frankly, on something thats the lifeblood of our civilisation and the way we live, to trust someone who wont allow any audits is extremely risky.
Ultimately, no one questions that the age of oil will come to an end. Whats in dispute is how much time we have left. As Robert Hirsch claims; If we get this wrong, we are all in very serious trouble.
Duration : 0:45:26
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We are entering the Peak Oil era. The growth of oil production is slowing, driving up oil and gasoline gas prices, firing inflation, driving unemployment, straining our global economy, and threatening to collapse our entire system. We are reaching Peak Oil and we are unprepared. Teacher Aaron Wissner, in a compact 10 minutes video summary, details Peak Oil, the evidence, the impacts, and the solutions. See the full one-hour video at LocalFuture.org. Also, at YouTube, see the conclusion, of that presentation, part 5 of 5, which highlights the impacts, underlying problem, and solutions to Peak Oil.
Duration : 0:10:0
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