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We are living in the age of peak oil
2010 energy (oil) prices:
In 2008 world oil reserves fell to a dangerous low of three percent sending the price of oil to an all time high.
Energy prices are lower from record 2008 prices from demand erosion.
Modern petroleum based economies such as the U. S. A with little or no economic growth use less oil.
Demand erosion is the result of higher energy prices and certain economic conditions.
Demand erosion and lower energy prices do not mix.
Demand erosion is the new world oil reserves.
EIA & the peak oil future (2012):
A declining world oil production between two and four percent per year is expected to out pace demand erosion by 2012.
Declining world oil reserves translates into higher world oil prices in less than a year.
Foreign oil, our food and transportation system:
The US still imports close to one billion dollar of foreign oil every day!
Most experts agree that the energy crisis is not over and very simply it has not even begun!
2010 energy (oil) prices:
In 2008 world oil reserves fell to a dangerous low of three percent sending the price of oil to an all time high.
Energy prices are lower from record 2008 prices from demand erosion.
Modern petroleum based economies such as the U. S. A with little or no economic growth use less oil.
Demand erosion is the result of higher energy prices and certain economic conditions.
Demand erosion and lower energy prices do not mix.
Demand erosion is the new world oil reserves.
EIA & the peak oil future (2012):
A declining world oil production between two and four percent per year is expected to out pace demand erosion by 2012.
Declining world oil reserves translates into higher world oil prices in less than a year.
Foreign oil, our food and transportation system:
The US still imports close to one billion dollar of foreign oil every day!
Most experts agree that the energy crisis is not over and very simply it has not even begun!
Energy Charts & Graphs
Energy Facts
Global Oil Consumption