Has Petroleum Production Peaked, Ending the Era of Easy Oil?
par Tan Gc
1. In 2010 Oil company BP
1.1. Found more oil by using unconventional techniques for extraction such as tar sands or the natural gas liquids.
1.1.1. On the other hand, China, Nigeria, Russia, and the United States have a growing production.
1.1.1.1. Which shows that technological improvements can allow for more production.
2. In 2005, production has remained unchanged whereas prices have fluctuated wildly.
2.1. "Cheap oil supply has plateaued" as a result, cheap production oil is running out.
3. The use of fuel will produce more CO2 to give rise to significant climate warming.
3.1. In 2005 the U.S. Department of Energy suggested a "crash program"
3.1.1. According to the New America Foundation, in 2010, the United States spent more than $490 billion in fuel-oil, while in 2011 spent $100 billion more than 2010.
3.1.2. To avoid economically painful oil price shocks in the future, we require a rapid deployment of alternative energy and reduce the extra demand.
3.1.2.1. Meanwhile the program should begin 20 years before peak global production to avoid "extreme economic hardship.