This post is prompted by a comment in Captain Jack’s latest blog regarding the BP disaster.
Have we passed the point of easy oil? Is oil getting harder and harder to extract now that we’re on the falling end of the bell curve?
It’s not really fair to say that we’re half way through the world’s oil reserves because no one can say for sure. But it doesn’t really matter. What really matters is that we have exhausted the easy oil and now we’re having to work harder to extract the oil.
The world’s demand for oil has been doubling every few years. At this rate of growth it’s undeniable that we will (have) exceeded the limits the easy oil drilling can deliver.
We have two choices. We can ride the falling curve as oil gets harder and harder and more risky to drill or we can start, today, to wean ourselves off. The fact is that we will have to get off oil eventually. How long do we want to stay addicted?