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This paper examines scientific and
government studies in order to provide reliable conclusions about
Peak Oil and its future impacts. Independent studies indicate that
global oil production peaked in 2006 (or will peak within a few
years) and will decline until all recoverable oil is depleted
within several decades. Because global oil demand is increasing,
declining production will soon generate high energy prices,
inflation, unemployment, and irreversible economic depression.
Regardless of the time available for mitigating Peak Oil impacts,
alternative sources of energy will replace only a small fraction
of the gap between declining production and increasing demand.
Because oil under girds the world economy, oil depletion will
result in global economic collapse and population decline. As oil
exporting nations experience both declining oil production and
increased domestic oil consumption, they will reduce oil exports
to the
U.S.
Because the
U.S.
is highly dependent on imported oil for transportation, food
production, industry, and residential heating, the nation will
experience the impacts of declining oil supplies sooner and more
severely than much of the world. North American natural gas
production has peaked, importation of natural gas is limited, and
the
U.S.
faces shortages of natural gas within a few years. These shortages
threaten residential heating supplies, industrial production,
electric power generation, and fertilizer production. Because
U.S.
coal production peaked in 2002 (in terms of energy provided by
coal), the
U.S.
will experience significantly higher coal and electric prices in
future years. The
U.S.
government is unprepared for the multiple consequences of Peak
Oil, Peak Natural Gas, and Peak Coal. Multiple crises will cripple
the nation in a gridlock of ever-worsening problems. Within a few
decades, the
U.S.
will lack car, truck, air, and rail transportation, as well as
mechanized farming, adequate food and water supplies, electric
power, sanitation, home heating, hospital care, and government
services.
Full report available
in Adobe Acrobat
and Microsoft Word
(links to sources available). |
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