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It predicts that future world oil production will soon reach a peak and then rapidly decline. The actual peak year will only be known after it has passed.
Originally posted by howmuchisthedoggy
This is where the Peak Oil theory begins to falter. It makes many inaccurate assumptions:
1. We know accurately how much oil is on this planet.
2. Our rate of consumption will increase.
3. We will continue locust-like until we have used every drop of oil.
4. The oil reserves are finite.
5. Human ingenuity is finite.
6. Human greed is infinite.
What technological panacea will replace oil in sufficient enough quantity to offset the demand from supply?
No secret cache of alternative fuel technologies appeared.
Extract from [2]1973 Oil Crisis:
The energy crisis led to greater interest in renewable energy, especially wood fuel and spurred research in solar power and wind power.
The next time, it won’t be a mere 2-3 years where oil prices were a bit too high. It will be a matter of oil simply not being available at any price.
Extract from [2]1973 Oil Crisis:
The 1973 oil crisis was a major factor in Japanese economy shift away from oil-intensive industries and resulted in huge Japanese investments in industries like electronics.
Japanese automakers led the way in an ensuing revolution in car manufacturing. The large automobiles of the 1950s and 1960s were replaced by far more compact and energy efficient models.
water-based technologies...environmental damage.
"the demand for oil will exceed available supply in the foreseeable future".
“future world oil production will soon reach a peak and then rapidly decline”
thelibra's most impressive tactic, and what I feel truly won the debate for him, was how he consistently pre-empted his opponent's points and rebutted them before HMITD even had a chance to present them, which is a little like throwing a punch before the bell rings, but...them's the breaks. Apart from that, he was simply throwing the huge bombs he was handed from the start.
Howmuchisthatdoggy took this. Hands down.
Both opponents agreed on the theory of peak oil, which pretty much sealed the deal for thelibra, who argued stellarly and convincingly for the theory. The questions that howmuchisthedoggy raised are much more sociological and economical questions, rather than points disproving the scientific validity of peak oil. I would like to thank both opponents for an extremely interesting discussion on one of the most relevant issues facing us.