Oil production limits mean opportunities, conservation

In the face of looming oil production shortfalls, all individuals as well as nations as a whole will have to use less oil. And now is the time to begin developing programs accommodating the need for less oil. The coming shortage could provide excellent opportunities for those able to identify them and act strategically...
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In summary, by 2030 it is very likely that there will be an export shortfall of more than 30 million b/d, and it is most irresponsible of IEA and EIA to say “Be happy, don’t worry.”

The implications are quite clear: Overall, everyone-both nations as a whole and individuals-will have to use less oil in the future. And now is the time to develop conservation tactics.

There are alternatives to oil, but they are most unlikely to be available in sufficient quantities to replace the current enormous demand for cheap oil. However, this will not necessarily put an end to society as some believe. Rather, the situation presents enormous business opportunities for individuals in the future.

The US and some other importing countries have already faced an artificial “Peak Oil” scenario in the 1970s when the taps were intentionally closed in the Middle East. When those who lived through that time think back, they will recall that life was still OK. It might be more difficult now, as we cannot foresee an increase in the production of crude oil, but by then electric cars will have replaced urban transportation.

We do have a future; life will just be quite different than it is today.

Published in: Oil & Gas Journal, Volume 104 Issue 31 Aug 21, 2006

Available from (in doc-format): UHDSG