How far away is Peak Oil and what is it?


Lately there has been renewed interest in Peak Oil and while we are talking about Emissions Trading and allowing larger trucks on New Zealand Roads, the fact is that oil is running out.

What is peak oil? Wikipedia has an extended description, but in simple terms it is when the amount of oil being extracted is at the highest rate and from then on, the amount of oil becomes terminal. In other words, the amount of oil being extracted from the earth will be less than is being consumed, while demand, along with population, increases.

The Space Collaborative paints a scary picture of what the near future could look like without oil. Of course oil doesn’t just drive our cars, our ships, our planes, but it also helps to generate electricity.

Now of course for New Zealand it’s not a big deal because we have geothermal power and arrangements with countries like Japan to access oil, when it starts running out. Major gas guzzlers like the USA will gladly give us a share of their emergency stocks because we’re nice people.  We shouldn’t forget that we have more vehicles in New Zealand than we have licensed drivers.  Of course the price will sky rocket and you will need to be very wealthy to be able to run your car. Just as well we have natural gas.

It was interesting to read that Australia voted in November, not to put together a plan for peak oil, so we probably won’t find any help there.  New Zealand has been working on plans for a number of years, because in 2003 we were dependant on oil for 48% of our energy production. This means that brown outs as predicted in the diagram above, within the next 20 years could become a reality. Yet besides emissions trading, the Kyoto Protocol, which as I have blogged about before will require that instead of spending money to protect our own infrastructure will have us sending money to other countries who have lots of trees.

I don’t think we’re talking about science fiction here, where it will be a problem for future generations, long after we have turned to dust. I think this will be a problem that anyone reading this blog will face. So what are you going to do when you can’t get petrol or diesel for your car and there isn’t enough oil to generate electricity or even make candles?

It bears thinking about doesn’t it?

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