Peak oil is looming and peaking at us from around the corner. This is according to the Oil Depletion Analysis Centre in London. The scientists there have stated that cheap crude oil actually peaked in 2005 and when one considers heavy crude oil in hard to get to placed like deep sea bottoms, then the world’s total oil reserves will peak in 2011.
With demand for oil surging in China and India, the consequences of a post peak oil world will see barrels in excess of $100. Plus, many oil-based industries will be impacted along with consumers. Geologist and environmentalist Jeremy Leggett compares peak oil denial with global warming denial.
For years, many industry officials and government officials didn’t want to acknowledge the reality of global warming. Finally, there is an undeniable consensus that global warming exists and man has contributed to its existence. But, as global warming denial has waned, peak oil denial still has a stronghold especially with the big oil companies who wish to keep this denial strong in order to slow the growth of alternative energy development.
But, peak oil is real. This is why we need to embrace hydrogen autos from the major automakers. This is why we need to embrace plug-in hybrid technology such as that being promoted by so that we can slow the depletion of crude oil while other alternatives come online.
If we do nothing and just wait for the peak to hit us, we are in for a world of bleak deprivation and industry collapse. The time to act on alternatives is now. Denial will only hold us back on action that needs to be taken today.