Not exact matches
But
oil is still far
cheaper than at the
peak of the previous eight - year boom that began in 2006 North Dakota's Bakken
oil patch and supercharged the city of Williston.
The real elephant in the room is «
Peak Cheap Oil» and the fact that unconventional's about to fall off a cliff.
The concepts of «
peak oil» and the end of
cheap oil are important motivators behind this innovative project, says McKim.
Many people are concerned about the perils of
peak oil — running out of
cheap oil.
The ecological limits of the planet are now in clear view, as expressed by the combination of climate change,
peak oil (the end of the era of
cheap energy), and overall global resource depletion and extinctions.
The reality of reaching
peak global production of
cheap, conventional light, sweet crude
oil supplies will continue to force strong upper pressure on the cost of crude
oil, gasoline, diesel and airplane liquid fuels.
It is an «interesting» argument that says we need to artificially keep
oil prices high because... err... the days of
cheap oil are over because... err... of
peak oil.
Our research indicates that, due to the depletion of conventional, and hence
cheap, crude
oil supplies (i.e.,
peak oil), increasing the supply of
oil in the future would require exploiting lower quality resources (i.e., expensive), and thus could occur only at high prices.
A «decline in the availability of
cheap energy» — i.e.
peak oil, and more generally
peak fossil fuels, could — if we handle it very stupidly — cause some very serious economic and social disruptions to human society.