17 Sep '11, 3pm

Oil & Peak Oil Infographic

OK, the thing that grabs me most here is the statement by Jeroen van de Veer, CEO of Shell, that based on his company’s analysis we hit the ‘cheap oil’ wall in four more years. At that point we will have used enough easier to extract and refine oil to bring the supplies below demand. That means that more expensive oil will come to the market and the price of all oil will rise. Who is going to sell their “easy” oil if the market is will to pay the price of “hard” oil? This happens and we are going to see some damaged economies. Enough economic activity will stop to cut demand to roughly the level of “easy” oil. But we would then have to continue to cut demand year after year as the “easy” wells get pumped out. We better be sure we have ways to cut our oil usage to match the dropping demand. Lots of ways to cut usage, efficiency/conservation and replacement. Raising fleet MP...

Full article: http://cleantechnica.com/2011/09/17/oil-peak-oil-infograp...

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