Peak Oil
When Gasoline Prices Skyrocket
for Good
Peak oil is a theory proposed by American geophysicist Marion
King Hubbert in 1956 that is based upon the world production of
oil. According to the peak oil theory, or just peak oil, as it
is called, the world production of the finite resource of oil
can be plotted upon a bell curve.
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Peak oil with hit in the next 3 - 15
years
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The early part of global production increases because of the
adding of infrastructure to support the drilling, transportation,
refining and distribution of oil. In the latter part of the bell
curve, production declines because the resource is depleting.
This depletion is terminal and at this time, the price for oil
will skyrocket and demand far exceeds supply.
Nations will be in bidding wars with one another over the ever-declining
resource of oil on the world market. A disproportionate amount
of power in the world will be had at this time with the nations
that control the oil. Some nations may invade other nations in
order to take control of the oil and secure some of this resource
for themselves.
Other nations who do not have large military forces, such as
developing nations who are highly dependent upon foreign oil,
will see a recession and depression in their economies never before
seen. Large nations without adequate alternative fuel resources
will also slip into recession and depression as many industries
will be forced to shut down because of the scarcity or extreme
prices for oil.
So, why should be care? World peak oil is expected to hit within
the next 3 - 15 years. Peak oil for the United States hit in 1970.
After this time, the U. S. needed to import increasing amounts
of oil since demand has exceeded supply in increasing numbers
ever since. For nations, such as the U. S. who are not prepared
with alternative energy resources to take the place of oil within
the next 3 - 15 years it will be quite a rocky road for many years
to come.
A hydrogen economy based upon renewable energy resources offers
the best solution for peak oil within the coming years. Renewable
energy such as wind, solar, biomass, hydroelectricity, geothermal,
tidal and wave power and high altitude wind energy offer solutions
for generating electricity that is clean, not dependent upon fossil
fuels and will not deplete.
The electricity generated by these renewable resources can be
used to electrolyze water and be stored as hydrogen gas. The hydrogen
gas can then be used as needed to run through a fuel cell to create
electricity. For instance, the sun doesn't always shine and the
wind doesn't always blow, so the electricity created by these
two resources during peak operation will need to be stored somehow
during low or no operation times. A house with solar panels or
wind turbines can use the electricity during peak hours to power
the home and store the excess as hydrogen gas. Then at night or
in the winter (less or no sunshine) or when the air is calm, the
hydrogen can be run through a fuel cell to create electricity
to power the home.
This same system can be run on a large scale as well, with solar
and wind farms generating electricity and storing the excess as
hydrogen. The electricity can go straight unto the grid, while
the hydrogen can be transported to areas where it is needed.
The dinosaurs thousands of years ago didn't have an inkling that
they would be causing such problems today. With today's supply
of dinosaur petroleum dwindling due to peak oil, the world needs
a new energy source that will make sure that we don't slide back
into the Dark Ages, but rather go forward into a new energy age
of the hydrogen economy.
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