In the past, only pessimists and utopianists warned us that oil is going to be exhausted. Now, due to the harsh nature of climate change, "peak oil" has become the focus of attention of the world. The price of crude oil of US$119 per barrel at the end of spring and gasoline prices of US$4 per gallon seems to be a sign of the peak of global oil production. The rise in oil prices will not stop. With the imbalance between supply and demand, the era of cheap oil supply has been declared to have ended.
In September last year, Schlesinger announced the "peak oil theory" was correct. This expert who knows the American energy industry has served as Chairman of the Atomic Energy Commission, Director of the Central Intelligence Agency, Secretary of Defense, Minister of Energy and Senior Advisor to many oil companies. At a conference sponsored by the Petroleum Peak Research Association, he said: “The oil spikers have won.” He also said that many oil company CEOs have reached consensus on the peak oil production in private, but none of them Publicly acknowledged. One of them is the CEO of Royal Dutch Shell. He commented that Citibank reported that 2012 is the peak of oil. He said: This day is almost the same and it will never be later than 2015. But even in 2015, there is only a very short preparation time, because today's society is still built on the basis of oil. According to a study funded by the Bush Energy Department in 2005, “The world has never faced such a problem. The previous energy transition (from wood to coal to oil) is gradual, and the peak oil level will be revolutionary.” We know that in the United States, the average working time of each person is 2 hours. Each family has 3 cars and public transport is shrinking. Therefore, it is the most sensitive and vulnerable to the oil shortage.
In developing countries such as China and India, as more and more middle-income people purchase cars, oil consumption even rises faster than GNP. Although optimists still feel that the peak oil may help to resist climate change. After all, a drop in oil supply will bring about a drop in consumption and a drop in greenhouse gas emissions. However, in the words of Bush, modern civilization is addicted to oil. If the peak of oil comes before the addiction, addicted people will seek more crazy ways. In Canada, energy companies are mining so-called oil sands, which are a mixture of water and heavy oil that can be processed into usable gasoline. However, this kind of gasoline produces more carbon emissions than traditional oil. And some similar projects are currently under way. If approved, these projects may increase pollution emissions by three times.
Many countries believe that the “peak oil price” should be implemented as soon as possible. The British Foreign Minister hopes that the United Kingdom can consider creating a “post-oil economy”. The governor of the State of New York believes that in the short term investment should be made in energy efficient industries and in the medium and long term, new low carbon energy sources should be invested. For example, plug-in hybrid cars can travel 100 miles per gallon of fuel, which is twice as much as current hybrid cars. If plug-in hybrid vehicles rely on solar wind energy or other environmentally friendly energy sources, they can resist climate change. However, many countries in the world hope that they can use local resources to produce energy, food, building buildings and other necessities of life, instead of using materials transported by oil. The purpose of doing so is to alleviate the crisis of oil peaks. The most naive idea is that the oil is boundless. Global Energy believes that it is time to seriously consider it. It is better to take precautions than suddenly.

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June 06, 2024