Oil will not just "run out" because all oil production follows a bell curve. This is true whether we're talking about an individual field, a country, or on the planet as a whole. Oil is increasingly plentiful on the upslope of the bell curve, increasingly scarce and expensive on the down slope. The peak of the curve coincides with the point at which the endowment of oil has been 50 percent depleted. Once the peak is passed, oil production begins to go down while cost begins to go up.
In practical and considerably oversimplified terms, this means that if 2005 was the year of global Peak Oil, worldwide oil production in the year 2030 will be the same as it was in 1980. However, the world’s population in 2030 will be both much larger (approximately twice) and much more industrialized (oil-dependent) than it was in 1980. Consequently, worldwide demand for oil will outpace worldwide production of oil by a significant margin. As a result, the price will skyrocket, oil dependant economies will crumble, and resource wars will explode.
The issue is not one of "running out" so much as it is not having enough to keep our economy running. In this regard, the ramifications of Peak Oil for our civilization are similar to the ramifications of dehydration for the human body. The human body is 70 percent water. The body of a 80 Kg man thus holds 50Kg of water. Because water is so crucial to everything the human body does, the man doesn't need to lose all 50 Kg of water weight before collapsing due to dehydration. A loss of as little as 4 to 5 Kg of water may be enough to kill him.
In a similar sense, an oil based economy such as ours doesn't need to deplete its entire reserve of oil before it begins to collapse. A shortfall between demand and supply as little as 10 to 15 percent is enough to wholly shatter an oil-dependent economy and reduce its citizenry to poverty.
Chennai city is the embryonic sample of the future Metropolis and the picture it is likely to paint. The Politicians however mighty they claim have little control over fossil fuel pricing, demand and supply. The truth is the bitter pill. The Rural India is a safer bet to survive. Please click on the link below to learn about future of fossil fuel availability and the reality.
Fossil Fuels Can it Last
No fuel in Chennai!
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