Dark Energy – Peak Oil and its Consequences

Energy is the single most vital ingredient after human capital to sustaining an advanced industrialized economy. By 2035, the International Energy Agency estimates the world must invest $48 trillion to meet projected energy demands. Oil and gas have historically been the largest share of global energy spending, but for the first time in 2016 electricity entered the top spot. Oil still remains the most essential component to the omnipresent transportation sector of the economy, but because of the steadily decreasing new discoveries and increased depletion of reserves from growing demand in emerging economies – many energy analysts describe this turning point as Peak Oil. When the oil runs dry, prices skyrocket, as we have seen in the 1970s and 2000s, industrialized economies struggle. Despite the volatility inherent to the oil market, the trend over the past 20 years has been a consistent rise in prices and ever more strain placed on the ecological balance of the earth as growing populations consume more land and resources. As in all ecosystems, however, the carrying capacity will assert itself one way or another – and despite technology’s ability to extend the life of an industrialized society – the physical limits of growth will inevitably constrain the size and scope of unabated consumerism. Despite the interests of big business – this downshifting may actually represent an opportunity for an increase in the quality of life for the rest of us.


Myth of the 20th Century – Ep79 – Dark Energy – Peak Oil and its Consequences

— References —

– Collapse of Complex Societies, Tainter (1990)
– The Prize, Yergin (1990)
– Naval Innovation – From Coal to Oil, Dahl (2000) – http://www.dtic.mil/dtic/tr/fulltext/u2/a524799.pdf
– World oil market chronology from 2003 – https://en.wikipedia.org/wiki/World_oil_market_chronology_from_2003
– Slaughter of Cities, Jones (2004)
– There Will Be Blood, Anderson (2007)
– German Army Peak Oil Study – within 15 years oil shortages may collapse global economy (2010) – https://www.youtube.com/watch?v=ZyUe7w1gDZo
– Invoking the Apocalypse: A Promenade with Pentti Linkola, Laviolette (2013) – http://www.materialworldblog.com/2013/03/invoking-the-apocalypse-a-promenade-with-pentti-linkola/
– Supply, demand and the price of oil, Econbrowser (2014) – http://econbrowser.com/archives/2014/12/supply-demand-and-the-price-of-oil
– The World’s Most Important Graph, Sailer (2015) – http://www.unz.com/isteve/the-worlds-most-important-graph/
– U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2016, EIA (2016) – https://www.eia.gov/naturalgas/crudeoilreserves/
– U.S. fuel ethanol production continues to grow in 2017, EIA (2017) – https://www.eia.gov/todayinenergy/detail.php?id=32152
– Shale Reality Check, Hughes (2018) – http://www.postcarbon.org/publications/shale-reality-check/
– It’s Final – Corn Ethanol Is Of No Use, Peak Oil (2017) – http://peakoil.com/alternative-energy/its-final-corn-ethanol-is-of-no-use
– World Energy Investment 2017 – https://www.iea.org/publications/wei2017/
– You Won’t Believe What Saudi Arabia’s Oil Production Cost Is, DiLallo (2017) – https://www.fool.com/investing/2017/03/19/you-wont-believe-what-saudi-arabias-oil-production.aspx
– The Iranian Revolution, Myth of the 20th Century (2017) – https://myth20c.wordpress.com/2017/01/16/the-iranian-revolution/
– Petrodollar – American Political Economics, Myth of the 20th Century (2017) – https://myth20c.wordpress.com/2017/03/14/petrodollar-american-political-economics/
– U.S. Shale – The New Swing Producer, Paterson (2017) – https://oilprice.com/Energy/Energy-General/US-Shale-The-New-Swing-Producer.html
– How & Why Big Oil Conquered The World, Corbett (2017) – https://www.corbettreport.com/bigoil/
– The Dark Side of America’s Rise to Oil Superpower, Blas (2018) – https://www.bloomberg.com/news/articles/2018-01-25/the-dark-side-of-america-s-rise-to-oil-superpower
– Why Is The Shale Industry Still Not Profitable?, Smith (2018) – https://www.nakedcapitalism.com/2018/01/shale-industry-still-not-profitable.html
– Why China’s Good Environmental Policies Have Gone Wrong, Huang (2018) – https://www.nytimes.com/2018/01/14/opinion/china-environmental-policies-wrong.html
– PickensPlan – pickensplan.com


5 Comments Add yours

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s