According to most commentators on peak oil, the world was endowed with approximately 2 trillion barrels of conventional crude oil that formed once in the Earth’s crust many millions of years ago. It’s amazing to think than over the last 2 generations we have burnt our way through the first half. If we continue at our current rate we will finish off the second half by mid-century.
When historians look back at our time it will be defined as a brief moment of 3-4 generations that lived during the fossil fuel age. Our cornucopian belief that we will always come up with a solution and that there are no limits has blinded us from the truth that we are squandering the Earth’s resources and leaving little for future generations.
There are many anecdotes that describe our moment in history but in the clip below, Randy Udall - co-founder of ASPO-USA, likens our situation to 20% of the world’s population sitting around a giant bonfire pilling on 1million tons of fossil fuels every hour. The remaining 80% watch from a distance whilst the fuel gauge heads towards zero. Recorded at the recent ASPO conference in USA it is one of many excellent interviews and presentations on the subject of peak oil and climate change at www.peakmoment.tv