Figure 20 years..
Hirsch Report...
"The peaking of world oil production presents the U.S. and the world with an unprecedented risk management problem. As peaking is approached, liquid fuel prices and price volatility will increase dramatically, and, without timely mitigation, the economic, social, and political costs will be unprecedented. Viable mitigation options exist on both the supply and demand sides, but to have substantial impact, they must be initiated more than a decade in advance of peaking."
en.wikipedia.org
netl.doe.gov
Hirsch video...
Bob Hirsch talking "Worst Case Scenarios" for Oil...as in "maybe $500/bbl" in the next few years...with increasing uncertainty/volatility (yes, that's right, oil could snap back down to $100/bbl, but then snap back up even higher again in a few months...without even considering geopolitics and other "above ground factors," which of course we must.)
theoildrum.com
He sez everything will be hunky dory by 2050, but he is not looking at the climate change half of the equation; just energy |
