biffvernon
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Flyfisher said:I'm not convinced that being past peak oil (if indeed we are) is incompatible with oil and gas not running out in our children's lifetime. There are still large reserves to be found (drilling starts around The Falklands soon - should be good for another conflict with Argentina) as well as the ones we already know about but just need energy prices to rise to become economic to extract.
We will never 'run out' of oil. There will always be some left but that's not the point. More important than ultimate recoverable reserves is the rate at which it can be extracted. If that rate is lower than the economy demands at a price that allows the economy to function... then the economy dies.
Of course some people will not see what happens and they will blame politicians or bankers or some new-found scapegoat but lurking in the background is the fact that the world economy will not cope with the oil production decline curve.
The real tragedy is that the more we put sticking plasters over the system to hold it together a little longer, the more we will exploit the unconventional oils, deep sea, Arctic, tar sands, oil shales and, of course, coal, the sooner we go over the climate tipping points and make the end of humanity, and perhaps even all life, inevitable.
Whether or not you insulate your house is of little consequence. What counts is not burning carbon. Already I can't see any way in which my own 18th century farmhouse can survive the sea level rise.