Peak Oil
There are numerous reasons why you might want to install solar water heaters and other alternative energy systems – global warming, concern for the environment or the sheer pleasure of having a bath knowing that your hot water came from sunlight. Until recently, such decisions required financial sacrifice, but the advent of PEAK OIL may change all this and make the installation of energy efficient systems a prudent investment – even in the short to medium term.
Oil will probably never run out completely, but the rate at which it can be pumped from the ground will be the first impact in terms of its price and general availability. Oil production has increased almost every year for the last 150 years, and consumption has risen to match. But this is about to change. As oil wells get older, the flow rate slows down. As this happens to more wells around the world, global production will ultimately start to decline. The study of peak oil is well advanced, and while it is not an exact science, most geologists working in the field believe that the peak in production will occur within a few years. When this happens, prices will rise, availability will fall and this will all happen at a time of economic downturn and recession, making the transition much more painful.
The time to prepare for this is now.
Click on the NOW button on the Poodwaddle clock below to see population trends and oil use over time.
Check out the Association for the Study of Peak Oil here
Fossil fuel prices
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