The Effects of Oil depletion in the near future
Oil is a finite resource that originally developed from prehistoric algae and other microorganisms. Colin J. Campbell from "Depletion and Denial" states: The prolific formation of oil has occurred only a few times in the Earth's long geological history. For example, almost all the oil from the Gulf Coast of the U.S. to Peru, including the vast degraded deposits of Venezuela, which hold even more than the Middle East, was the result of a brief period of excessive global warming 90,000,000 years ago. Algae flourished in those ancient warm, dead, stagnant, and anoxic seas. Another such epoch, 140,000,000 years ago, was responsible for the oil in the North Sea and much of the Middle East. (2)However, many people know little about the controversial issue of oil and oil depletion besides what they have been told by un-informed experts. It has become so controversial because of the difficulty in predicting the current oil supply. Most people are too optimistic in their estimates of the supply because of the dire implications of a shortage. Simply put, energy is the key that unlocks all other resources. As of today, oil accounts for 40 percent of all energy use in the world. This accounts for 26 billion barrels a
This will weaken the central government and probably lead to a more localized government. However, it is a fact that much of these discoveries and advances could not have been achieved without oil. Higher production costs will also result in higher prices in consumer goods. Over time, a new source of energy will be adapted and innovated for use. What will happen after the oil supply is gone? Well, it is clear that this will probably be answered in this century. As population increases and under-developed countries industrialize, demand for oil will sky-rocket. Laherrere from "The End of Cheap Oil" state that global demand is increasing at more than two percent a year. As of today, this number has dropped to 3. In order for industry to flourish again, this new source must be at least as efficient and abundant as oil once was. Essentially, these lower wages and higher prices will lead to a lower standard of living and more poverty for the world. Famines will surely result, and society will resemble only a fraction of what it was.
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Acceptance Essays
