The Immortal Words Of Sheikh Zaki Yamani, A Saudi Oil Minister

In terms of oil dependence, most of the general public believes that the world has enough oil to support us for the next hundred years; in truth we are rapidly depleting our petroleum sources due to the increasing population and demand. In fact, as was initially theorized by the Hubbert Peak Theory in 1950, Earth peaked in oil supplies in 1973 and the largest oil resources that have been discovered since then have been in Venezuela and Saudi Arabia. Here it must be

Margaret Atwood has written a piece of paper called “The future without oil” in 2009. In the article she addressed three important assumptions about oil i.e. fossil fuel. These assumptions points of the future without oil, what is going to be happen if oil run out of the planet suddenly and what are the plans and other energy resources to overcome? She explained each assumption with some consequences. The use of fossil fuels raises serious environment concerns. The burning of these fossil fuels produce carbon dioxide into atmosphere, it leads to global warming and climate change. She also gave the signs of warning like transformation of oceans, shortage in rainfall after long time in California and the rise in ocean level. Strengths of this text is that she explained arguments with some relative examples.

Oil is a finite resource and eventually it is going to run out. But what is the point in pretending it’s not there now just because there’s a chance that it may only last 30-40 years? According to the oil companies. Which I am sure must be absolutely 100% accurate. Why would an oil company want to underestimate the length of time their reserves will last? It does not at all sound like simple business logic to me. Let’s all face it; if a doctor tells a family

One of the main subjects this documentary talks about is the "peak oil" phenomenon. According to many geoscientists, geologists and other members of the scientific community, oil production is supposed to peak. After this peak, we should start to see production drop as the oil becomes harder to extract and refine. Some think that we have already peaked, others think that production is currently peaking. Recently, there have also been some people in the financial industry who are saying that the peak oil

The reason of the fall in oil prices are the constant change of demand. The need for the oil is actually stagnant. Crude oil is becoming a product of the past. Today, you can harvest energy from solar, wind, water, heat, and waves. According to The Economist, “The use of fossil fuels in the rich world is mostly falling. Emerging economies are not currently taking up the slack”.

The term “peak oil” refers to the point when oil production reaches its maximum rate and then its production gradually decreases. There is no doubt that having cities as peak oils will drastically affect many lives. But what exactly are the effects of peak oil? There are many effects that could possibly end the lives of many. One would be that peak oil will affect health services. The Gross Domestic Product or simply the GDP will decline as a result of peak oil. When the GDP declines, it will affect what communities can spend on health care and other social health activities and programs. Most models of health care provisions depend on cheap fossil fuels. Since peak oil will decrease the quantity of oil and as a result increase the prices,

It is estimated that 1.3 trillion barrels of oil reserve is left in the world’s major fields (Institution of Mechanical Engineers 2015). At present rates of consumption this will be enough oil to last approximately 40 years. By 2040, it is intended for production levels may be down to 15 million barrels per day which is approximately 20% of the amount of oil which is currently being consumed (Institution of Mechanical Engineers 2015). It is likely by the year 2040 that the world’s population will be twice as large (United States Census Bureau 2015). Additionally, it is likely that more of the world will be industrialized and therefore more dependent upon oil.

This number may comfort some, but there is still reason to be fearful. Ninety percent of Earth’s refined oil is burned through transportation, with the United States consuming 25 percent alone (Davy par. 5, 6, 8). Collectively, factors will add up to devastating consequences later if change isn 't pursued. Geophysicist M. King Hubbert confirmed, through a calculated formula, that oil production will increase to a peak in the year 2030, but will proceed to decline soon after until oil drains too far down to be economical to continue drilling or having the well run out entirely

Although its been said that we may only use oil for 10 to 15 more years before we hit our peak, If it is conserved it can be used for many more. Even though I believe it isn’t going to be conserved and never will be, it is a possibility. (Oil Shale and Tar Sands Program, 2012)

ing that a few decades onwards, there is the possibility of oil becoming a secondary energy source,

The United States has been involved in the affairs of the Middle East for decades and they’ve had various reasons for being there, whether it was to wage war or to prevent outside influence that would undermine their own influence in the region, it always seemed to revolve around one thing: oil. As we all know, oil is a very profitable resource and it’s a huge part of many nations’ economies and because this is the case many wars are fought over this black liquid. The U.S. is no different in that they did just about anything to maintain their access to Middle East oil. As a result, United States actions in the Middle East today has been formed through the decades long desire for their oil.

The world is depended on oil and soon oil will become more valuable than gold and could lead to a worldwide war. Price for oil could soar to above two hundred fifty dollars per barrel. Oil and other fuel cell also cause green house gases which contribute to global warming. China is consuming two times more petroleum than 1996 and India is projected to consume three times the oil it currently does by 2050. Global house gas emission has increased by twenty percent from 2003 to 2006. Energy consumption has increased exponentially throughout the globe. The U.S. department of energy projects energy consumption will increase seventy percent from 2003 to 2030. The world has agreed to reduce emission by twenty five percent before 2020 and by over

A lot Scientists and oil field experts have been collecting facts and scientific evidences to try to predict the period at which peak oil will occur. Two of the scientists working toward this discovery are Colin J. Campbell and Jean H laherre. Those two scientists wrote an article about the aftermath s of the 1970 's oil embargo sppured reachees over the decline of oil, which resulted in erroneous conclusions due to various factors (78). In order to truly cast light on the issue of oil decline, Campbell and Laherrère merged a variety of techniques which comprise the examination of “the decline of aging fields” and “the diminishing returns on exploration in larger regions”, the extrapolation of the size

World oil demand is increasing as emerging economies need more energy to increase their living standards. Estimates, shown below, are that by 2030, China and India as emerging markets will import over 70% to 90% of their fossil fuel needs (1) . Coupled to a continued high and growing demand for oil, makes this a robust market for the next 30 years.

Because private companies and nations have over-estimated oil reserves it is difficult to be exact but these estimates of world oil reserves are close and further research will reflect this. Also, rapid exploitation may have damaged many reserves' wells and will limit production. It may be that we (the world) have much less than is believed! The United States past its "peak oil" point back in the early 1970's ( for further research refer to Peak Oil Crisis Books) and now imports about two-thirds (2/3) of its oil. The U.S. economy and the current American way of life is supported by energy from other nations. Those nations that have not already past peak oil (maximum production) are very near it. In the future, production will decrease while at the same time demand increases. The spread between supply and demand will cause higher prices (for all products),