Funny that John Michael Greer's posted just last week yet again a summary about his vision of the decline and fall of industrial civilization :
http://thearchdruidreport.blog...
He's excellent, as always, in integrating the knowledge of many scientific fields (including climate change science, but it is by no means the most prominent field in his work) to paint a coherent vision of the future.
He's also been saying for a while that you can only really affect people by painting narratives (while dry facts tend to just bounce off).
That price increase starting in 2004 reflects the (cheap) conventional oil extraction not keeping up with the demand (what you call "running out"). The higher prices allowed the unconventional (more expensive) oil to be developed. Those however will "run out" much faster than the conventional oil (oil from shale is expected to peak around 2017), requiring the next step of oil price increase for the even harder oil to be economical to extract. However it would seem that this next step won't happen because the major oil corporations have recently started to dial back their investments into future oil extraction. That means a crash of oil production, and therefore a crash of the global economy as well.
There's also the problem that unconventional oil shouldn't be extracted in the first place if we want to stay at manageable levels of climate change...
Slashdot Mirror
Funny that John Michael Greer's posted just last week yet again a summary about his vision of the decline and fall of industrial civilization : http://thearchdruidreport.blog... He's excellent, as always, in integrating the knowledge of many scientific fields (including climate change science, but it is by no means the most prominent field in his work) to paint a coherent vision of the future. He's also been saying for a while that you can only really affect people by painting narratives (while dry facts tend to just bounce off).
The oil we used today is as cheap as almost any other time in life
What!? http://www.macrotrends.net/136... How exactly $100 a barrel is as cheap as $30 a barrel?
That price increase starting in 2004 reflects the (cheap) conventional oil extraction not keeping up with the demand (what you call "running out"). The higher prices allowed the unconventional (more expensive) oil to be developed. Those however will "run out" much faster than the conventional oil (oil from shale is expected to peak around 2017), requiring the next step of oil price increase for the even harder oil to be economical to extract. However it would seem that this next step won't happen because the major oil corporations have recently started to dial back their investments into future oil extraction. That means a crash of oil production, and therefore a crash of the global economy as well.
There's also the problem that unconventional oil shouldn't be extracted in the first place if we want to stay at manageable levels of climate change...