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Conservation: The Solution to Peak Oil
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In 1979 the world’s use of oil had been rocketing up at more than twice as fast as in recent years. As the “Oil Trend” line in the graph shows, six years after the 1979 peak, oil supply had fallen far below its upward trend. In fact, after five years, it was behind by 21%, more the double the problem Deffeyes foresees from the 2005 peak. In other words, the OPEC enforced peak in 1979 was more than twice as severe as the peak Deffeyes foresees as likely to cause war, famine and death. So what happened actually happened after the 1979 peak?
During those six years, when total world oil production fell 8%, world GDP grew by 13%. I’m not saying we did this without any pain, but 13% growth in five years is not a calamity. The first few years were tough times; the poor suffered, and the rich were annoyed, but the world did not stopped growing.
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http://zfacts.com/p/862.html | 01/18/12 07:26 GMT
Modified: Mon, 26 Nov 2007 20:35:58 GMT
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