Energy Reserves  -  How Much Longer Can We Deny?


The energy reserves are final.

Apart from coal, we will no longer possess any noteworthy resources of oil, gas or uranium by the end of
this century. The substance that gave us unparalleled growth worldwide, that gave us a never before known
affluence and progress, but also an explosive growth of the world population will ultimately run out.

 

“Oil is the lifeblood of the world economy. We are now reaching the peak of the possible extraction and will be confronted with shortage of this essential good. This will affect all aspects of our lives.” 1

As we acknowledge the realization, the energy demand is exploding in countries like China and India. The ongoing rise of commodities, indices and consumer prices not only document a substantial trend, it suggests that the times of cheap energy are over.

“Peak-oil means the end of a long growth period. At the beginning of the oil age, every year more oil was found. With a delay the oil production rose consequently with every year until the maximum possible extraction point has been reached.

This is the peak-oil phenomenon - the peak of extraction. We had the peak of oil exploration already in the mid 70’s. Now we will inescapably see the interrelated peak of extraction.” 2

1 + 2 NZZ Format Statement Colin Campbell, Geologe