07/27/10 Baltimore, Maryland – The era of cheap oil is over! And today may represent your last chance to protect your wealth from the rising price of oil.
Why?
As you may know the “peak oil” thesis is unfolding in front of our eyes.
The idea behind peak oil is that there is a finite amount of petroleum in the world. There is a certain point where we will pump crude oil out of the ground at a maximum rate, after which the rate permanently drops until all the oil is used up.
And we have already reached this point of no return. According to EnergyBulletin.net, this happened July 2008.
Check out the chart below:
Chart Source: http://www.energybulletin.net/primer.php
Well, in a world dependent on energy resources that uses oil above all, this idea has some profound – and daunting – implications (think triple digit oil prices per barrel).
This is the end of cheap oil.
Luckily there are people researching and writing about this every day, so you can make sure that as oil prices continue to climb – you’ll be prepared to capitalize.
Here are the best peak oil blogs on the net:
1. The Oil Drum – The Oil Drum discusses the future of energy and its impact on our world. They believe that we are near a peak oil point and that current oil production levels cannot possibly match the world’s ever growing energy demand. With original research and calculated conclusions, they aim to raise awareness and persuade people to work towards a common goal.
2. ASPO International – Specifically studying peak oil, ASPO International consists of a group of scientists and researchers who have a particular interest in the date and impact of a potential peak oil point. Among the chief writers are PhDs, professors and doctors from around Europe, Asia, the United States, South Africa and Australia.
3. Peak Energy – With multiple posts each day, Peak Energy gives its readers tons of stories, information and potential solutions to peak oil and other environmental problems. They feature stories from around the world on peak oil, alternative/renewable energy, and global warming, and how these might impact our world.
4. Mobjectivist – Mobjectivist discusses what they see as an “inevitable world-wide energy transition” in a very academic manner. With scholarly analysis of real data, mathematical equations, graphs and theories, such as the Hubert peak theory, this site offers a unique view of the energy crisis.
5. Peak Oil Crisis: The End of Cheap Oil – A great place for hard facts and numbers, this site charts the daily price of oil in addition to a variety of other indicators and potential warning signs of a peak oil point. They also have a ticker of related peak oil news stories pulled from other known sources on the web.
6. Energy Bulletin – From the Post Carbon Institute, Energy Bulletin draws news, research and analysis about the peak in the world’s energy supply from reputable sources all over the internet, as well as writing their own original content. The posted articles should deliver the current facts and implications of peak oil as well as help readers prepare for such an occurrence.
We believe we have past the peak of getting cheap oil out of the ground. The prospect of exhausting the world’s supply of affordable oil is a frightening one – one that will affect every person on earth.
However, with these blogs you can help prepare yourself for a world with $100…$150…and higher oil!
Are you ready for the end of cheap oil?
If you have any questions, comments, or recommendations, feel free to write them in the comment section.
Thanks for reading…
Michael MacLeod
Research Assistant for The Daily Reckoning
And if you still want to know more about peak oil after reading these blogs, here are additional articles from The Daily Reckoning:
Michael K. MacLeod
Michael K. MacLeod is completing his degree at Johns Hopkins University in Baltimore, MD. majoring in Economics with minors in Music and Philosophy. Adhering to the Austrian School of economics, he is a firm believer in evolutionary economics and is particularly fond of Joseph Schumpeter and his book Capitalism, Socialism and Democracy. Michael hopes to bring his idea of “creative destruction” to The Daily Reckoning on a daily basis, where he currently works as the Research Assistant.
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http://www.peakaware.com has a good selection of videos and links.
Don’t be frightened. Peak oil is a myth. But there will no longer be cheap oil for Americans, but not because of peak oil. It will be because the devaluation of the dollar and because the environmental movement is doing everything it can to destroy the production domestic supply of energy–much to the benefit of those who are invested in Canadian oil producers.
Welcome, Michael,
Another “energy in trouble” blog I’ve been reading for years (and commenting to) is Jeffers’ “American Energy Crisis” …
http://americanenergycrisis.
blogspot.com/
Hey, Michael;
Good work getting the word out!
I wonder, P.W. Dunn, if there’s a possibility that the dollar is in trouble because it has lost its monopoly on Oil Trades?
Environmentalists are pushing hard for MORE domestic energy.. maybe it doesn’t count if it leaves no smog..
Finally, you know, Santa Claus is ‘Technically Speaking’ a myth, but the facts on the ground are that kids are still getting all those toys. Coincidence? I think not.
Jokuhl
Michael K. MacLeod,
Thank you for the list of blogs.
Please explain why “Peak oil is a myth”. You can say “Peak oil is not why production was maximum in 2008″ without substantiation and I’ll grant that yes, you may be right. You can say “There are still many places to explore and tap into oil reserves” and I’ll also grant that maybe you are right. You can say that oil economics, advances in production technology, and the dynamics of price, supply and demand will create the “undulating plateau” and so in fact the Rayleighesque “peak” is a myth. But unless you adhere to the abiotic theory of oil, or to a creationist dogma that God put it there for Americans to use until Armageddon, then oil is a finite resource. And if that is true, then some day production will peak, if it hasn’t already. That is simple logic.
However, all is not lost. I agree that it is not reason to be frightened. A great blog that discusses peak oil paranoia is
http://peakoildebunked.blogspot.com/
The blogger DOES “believe” in peak oil, but he points out that it won’t be the end of the world as we know it. The following posts are particularly good food for thought.
http://peakoildebunked.blogspot.com/2009/02/394-conservation-stimulates-economy.html
http://peakoildebunked.blogspot.com/2006/07/307-confessions-of-ex-doomer.html
This blog is very interesting, I can easily say that peak oil is the answer to the poor economy. It will have a great help to all the consumer because it is cheaper it means it is affordable.