Is our world running short on energy, have we reached "Peak Oil"?

April 4, 2008 2:06am CST
Understanding supply vs demand economics as I do make me believe we have reached "Peak Oil" Peak Oil is the point in time where oil production has reached its peak and from this time forward oil production will start to decline year after year. The evidence I give for this is the sky high price of oil and the fact that we are now mining oil from the Tar-Sands of Alberta Canada which is the most expensive oil to produce. All the easy to get oil has been discovered and there is not enough of it to meet our needs otherwise we would not be mining oil from the Tar-Sands. This means that our children will not have as good of a life as we have had to date. I find it very sad that I am not able to leave a better world for my children because most of us refused to understand the need to conserve energy and also because of the economic system we have created. We have an economic system that is not sustainable and is guaranteed to collapse. Our current world economic system requires growth year after year to succeed. And our world economy which requires eternal growth to succeed but is fueled by fossil fuels which is finite or fixed in quantity. It is mathematically impossible to sustain an infinite economy with finite energy supplies. We would need unlimited energy to fuel our unlimited economy, which is something we just don't have in our physically finite world. Given the mathematical impossibility of sustainability of our system, our children will not have the life of abundance we have so enjoyed. And as a parent that makes me very sad, because, I and all the parents of the world failed to use our gift of foresight that only humans have to see this coming and make changes to deal with it. Instead we all had and some still do have their heads stuck in the Tar-Sands.
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