Oil Production

Features Richard Heinberg, Matthew Simmons, Roscoe Bartlett & David Goodstein

Oil is the primary fuel of the global economy. 98% of cars and trucks, 100% of farm equipment, 99% of trains, and 100% of airplanes run on oil. Oil provides 50% of all energy in the USA. It is used for plastics, cosmetics, packaging, etc.

Shell oil geologist M. King Hubbert predicted that U.S. oil production would peak around 1970, which it did.

Now, the USA consumes more than twice as much as it produces.

The GAO states that world oil production is expected to peak any time now but the federal government doesn’t have a plan.

Oil will continue to become more and more expensive as peak oil is passed and prices rise.

Duration : 0:4:24

[youtube QYcfQfnSpqM]

4 Responses

1. dieudutonnerre Says:
   October 25th, 2009 at 10:46 pm

   Im specializing in …
   Im specializing in plant biochemistry just for that ! !

   (hopefully ill get to work on algae)

2. florgat91 Says:
   October 25th, 2009 at 10:46 pm

   algae will be our …
   algae will be our savior !

3. weeboodeath Says:
   October 25th, 2009 at 10:46 pm

   Resources exist to …
   Resources exist to be consumed. And consumed they will be, if not by this generation then by some future. By what right does this forgotten future seek to deny us our birthright? None I say! Let us take what is ours, chew and eat our fill.

4. vanityfox451 Says:
   October 25th, 2009 at 10:46 pm

   Hi oildepletion,
   …
   Hi oildepletion,

   Excellent videos!!!

   I couldn’t resist offering up your Googling:-

   “Chris Martenson”

   “Crash Course”

   …if you haven’t seen it already, its very well worth having a look…

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