Peak oil, peak gold - March 3

Peak oil, peak gold - March 3 | Energy Bulletin: Is the World Tottering on the Precipice of Peak Gold? Richard A...

... There are those that doubt the “peak oil” hypothesis, suggesting that increasingly expensive sources (such as from the Arctic) will be funded by rising prices, to the point that other energy sources, including renewables, will become more economic and widely used. Under these conditions, they argue, there will never be a final “oil crisis.” However, this ignores the limits to renewable sources and the finite nature of all Earth materials. Eventually, we will just run out. Some specialists suggest that some of the great fields in Saudi Arabia are already showing signs of depletion, including the presence of water in the produced oil (which occurs when groundwater rises to replace oil as it is pumped from the top of a pool). When it becomes clear that this is indeed happening, we can expect a rapid increase in the world oil price, which could damage global economies, and...

Full article: http://www.energybulletin.net/stories/2012-03-03/peak-oil...