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Peak oil in a nutshell
- The broader economy is predicated on growth.
- The broader economy is built on the assumption of cheap energy.
- The world will not run out of oil for a while, the problem is oil can not be pumped out any faster then it already is and what left is both of lesser quality and requires more energy to pump it out and refine it. Judging by what is going on in Saudi Arabia I would guess that they are at peak oil and by extension so is the rest of the world.
- Alternative fuels and energy conservation are no where near ready for anything close to replacing and/or mitigating the current level of energy consumption.
- If the economies of China and India ramp up then the available oil supplies will be burned through in fairly short order.
- Modern agriculture is almost entirely dependent on oil for transportation, fertilizers and pesticides.
- Suburbs are dependent on oil for basically everything and suburbs usually sit on paved over farmland.
- Most people living in the suburbs currently have virtually no idea how to do things without oil.
- Globalization is running in the opposite direction of what should be done with economies as peak oil (slowly?) takes hold.
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