16 August 2014

Peak of oil extraction passed in 2005. What's next?



Threshold of oil extraction on planet earth was passed in 2005.  Investments in the exploration and production of oil from 2005 to 2013 amounted to $ 4 trillion, but even these investments could not have increased the daily production. Daily production falls by about one million barrels per day
For comparison, from 1998 to 2005, investments totaled only $ 1.5 trillion, and gave an increase of 8.6 barrels per day 

Rising oil prices was not sufficient to cover the costs associated with the search for new deposits. Therefore, costs will rise, production will fall. The expected effect - more energy will be spent on the process of production, which will lead to cuts in other important energy needs of human society. (Alexsword)

INSIDER DAILY Opinion 

Can humanity, make a qualitative leap in the search and use of new energy? Perhaps it would be able to, if not for eternal gluttony, greed and selfishness of the powerful. If humanity does not suppress their selfish tendencies and inordinate thirst for consumption, then its heading into the "dark age" and the complete extinction as a species

INSIDER DAILY