And when we do, well, the end of the world as we know it will commence. The illustration to the right just shows a tip of the hysteria that folks are spreading.
End of oil? Beginning of anarchy.
And so they demand that we do something about it.
And we did.
But it isn’t what the folks had in mind. See, the technique of scaring us using peak oil was meant to shock us into developing technology that would alleviate the need for oil completely. Technology that would replace oil.
See, along with peak oil is the whole dependency on oil thing. If they can scare us with the Middle East terrorism thang, then they can get us of oil even quicker.
Peak oil. Terrorism.
The rub is that the folks that are trying to scare us from oil don’t CARE if we use the last drop of oil. In fact, if they could, they’d wish hat oil away in a heart beat. And terrorism? The language over the last few years surrounding international and domestic terrorism leads me to believe that they don’t really mind that radical Islamic terrorism thing.
Anyway, my point? My point is that we DID develop technology and we DID push back the threat of “peak oil” years and years from now:
A new drilling technique is opening up vast fields of previously out-of-reach oil in the western United States, helping reverse a two-decade decline in domestic production of crude.
But drillers learned how to increase the number of cracks in the rock and use different chemicals to free up oil at low-cost. “We’ve completely transformed the natural gas industry, and I wouldn’t be surprised if we transform the oil business in the next few years too,” says Aubrey McClendon, chief executive of Chesapeake Energy, which is using the technique.
Petroleum engineers first used the method in 2007 to unlock oil from a 25,000-square-mile formation under North Dakota and Montana known as the Bakken. Production there rose 50 percent in just the past year, to 458,000 barrels a day, according to Bentek Energy, an energy analysis firm.
It was first thought that the Bakken was unique. Then drillers tapped oil in a shale formation under South Texas called the Eagle Ford. Drilling permits in the region grew 11-fold last year.
Now newer fields are showing promise, including the Niobrara, which stretches under Wyoming, Colorado, Nebraska and Kansas; the Leonard, in New Mexico and Texas; and the Monterey, in California.
We’ll never drill the last drop of oil. Long before that happens we’ll discover better and cheaper means to get a lot of it. And as we get closer and closer to reach the point where the expense of drilling causes the cost of selling that oil to go higher, then we’ll invest in a different source of energy.
And not until then.