Back in the 1970s there was a bumper sticker that read simply: QUESTION AUTHORITY. I think that’s still a valid request, and I think the bumper sticker and some little buttons with that phrase are still available today. The thing is, I’m no authority. I’m just a guy who reads a lot and writes a little. Still, you should ask: What if I’m wrong?
What if oil doesn’t peak? What if supplies don’t get tight? What if we just keep on keeping on, always finding enough oil to get us by in the years and decades ahead? Boy, wouldn’t that be great? Not many people want to be wrong. On this, I’d be delighted.
What you have to ask is this: How much do we know about global oil production with absolute dead certainty? The answer is "Not much." What we do know is this: The peak of oil discoveries world-wide was back in the 1960s, some 45 years ago. We also know we are using oil faster than we are finding it. And in all honesty, that’s all we know for absolute dead certain. Everything else is an educated guess.
We do not know how much oil remains in the earth, nor do we know where it all is, or if we can get to it, ever. Because that is really what we know, we say this: We will never extract all of the oil. There will always be oil in the earth. But you have it understand that “peak oil” is not about the last drop. It’s simply about the production curve. At some point, we assume, we will no longer be able to extract enough oil to meet our base-line demand. That is, we will not be able to conduct our lives as we do now, even after we implement available energy alternatives and conservation. Even after demand destruction. At some point, oil depletion will become a first world problem. Our problem. Of that, I am fairly certain.
But, again what if I’m wrong? Tell you what: If I’m wrong, and the oil doesn’t run low, I’m gonna buy the 1972 Cadillac Eldorado convertible I always wanted and drive that sucker coast to coast with the top down and Springsteen on the eight-track.
Wanna come along?
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