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Peak Oil Matters

A fresh perspective on the concept of peak oil and the challenges we face

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Archive for September, 2016

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Shaping our identity in large part by the groups we align ourselves with for emotional, psychological, cultural, and political reasons are powerful anchors—individually and collectively. All of us are much more inclined to seek out information and assurances which bolster who we believe ourselves to be rather than contemplate facts or assessments casting doubt about our choices and conclusions.

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U.S. crude oil production is falling because investments into shale oil production dried up as the price of crude oil fell below $60/bbl. Companies aren’t interested in putting new capital to work, and because these oil fields deplete, that means crude production is falling. Why is that significant? Because most of the world’s new oil production in the past 6 years has come from U.S. shale oil fields. It is hard to overstate the global importance of the new crude supply that came online in the U.S. since 2008

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According to system justification theory, our evaluations of social systems and institutions are influenced by epistemic needs to maintain a sense of certainty and stability, existential needs to feel safety and reassurance, and relational needs to affiliate with others who are part of the same social systems (_). These needs give rise to a motivation to perceive the system as fair, legitimate, beneficial, and stable, as well as the desire to maintain and protect the status quo (Citations in original).

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One day we will run out of oil, it is not today or tomorrow, but one day we will run out of oil and we have to leave oil before oil leaves us, and we have to prepare ourselves for that day. The earlier we start, the better, because all of our economic and social system is based on oil, so to change from that will take a lot of time and a lot of money and we should take this issue very seriously. [quoting Dr Fatih Birol, at that time the chief economist and now Executive Director at the International Energy Agency (IEA)] 

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Of course it’s threatening to think that our lifestyles, systems of governing, and capitalist processes themselves may all face drastic changes in the not-too-distant future because of the facts and reality of Peak Oil and climate change! I’m certainly not the poster-child for Peak Oil advocacy and lifestyles. I have a very nice, capitalist, well-to-do lifestyle. To hell with all of you, I don’t want MY life to change!

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We have a problem with oil production now—not just here in the United States—and it is not going to get better. The cancellation of exploration and production projects does not occur in a parallel universe! If production is being curtailed, that we have enough today to meet demand is not the beginning and end of supply concerns

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