The Energy Crisis

It seems that we can't pick up a newspaper or watch a news broadcast without the mention of the looming energy crisis. Doomsayers preach about the exhaustion of our oil supply and the collapse of the world's economy. Essentially, the end of the would. Hyperbole aside, what the average American needs to understand is that the crisis is now upon us. There will be so single event to herald the end, or the beginning of the end. No headlines telling of wells running dry or reserves failing to keep up with current demand. What we will see however, is a long series of small changes and events occurring over many years, slowly leading us to ruin. We need to respond now, begin developing new sources of energy that will meet our future need, and the needs of our children and grandchildren. We need to begin today.

Worldwide demand for energy continues to grow at an ever increasing rate. Some statistics show that China alone would need to build a new medium range power plant each and every week for the next ten years just to keep up with the anticipated demand. Our oil reserves will simply not be able to keep up.

The United States is one of the leading producers of oil in the world. We are also one of the world's biggest consumers. For every barrel of oil that we pump out of the ground, we consume two. This shortfall is made up by purchasing what we need from producers in other countries. Our annual importation figures are tremendous mind numbing even. Every dollar we spend on foreign oil is one less dollar available in our own economy. Oil imports represent a significant contribution to Americas annual trade deficit.

Our primary near-term energy goal should be to significantly reduce our dependence on imported oil.

We should look upon the large oil companies as partners rather than opponents when it comes to developing alternative sources of energy. How often have we heard that big oil is trying to maintain our countries oil dependence in order to serve their own bottom line? These ideas and points of view are just plain wrong. The world's large oil companies know what the future for oil is. They know that if they are to survive that they will need to learn to adapt. They are adapting. They see their future as energy providers. Providing for the world's energy needs much as they do today, but not with oil. Their future depends on developing and exploiting sources of energy that are abundant, renewable, and cost effective. When oil becomes to scarce or too expensive for the market, then will still he here, still selling energy products, still making money.

The world largest integrated oil companies are leading the way to exploiting new sources of energy for our future. Every year millions of dollars are invested in research by such well known names as Chevron, BP, and Exxon Mobil. President Bush boasted to Americans about the federal dollars budgeted for alternative energy research and development, yet the amounts seem but a pittance compared to R&D spending by the private sector.

Peak Oil: A few decades ago, an geophysicist named Marion K. Hubbert floated a theory that became known simply as "Peak Oil" or the “Hubbert Peak Oil Theory." The basic premise was that we would reach a point where worldwide oil production world be at the maximum level. When this time comes the rate of production will enter a systematic decline. The Hubbert model shows the decline after the peak to follow that of a bell curve.

NOW, more than ever before in human history, we need to face the cold hard facts that we are not only facing an energy crisis, but it has already begun. Here in the United States, we are paying upwards of three dollars a gallon for automobile fuel. For every barrel of crude oil produced domestically, we consume two. We have become dependant on foreign oil producers to operate our economy. Perhaps now is the time to seriously consider other sources of energy to support us.

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Written by: Owen R. Matthews

This Nipperbou page was compiled by Owen R. Matthews and is part of the Nipperbou Website. All pages (C) Copyright 2007 by Owen R. Matthews, all rights reserved. Nipperbou and the Nipperbou Nipper are registered trademarks of Nipperbou Web Antics, SA. Opinions expressed here are not always those of the above named and we cannot be held liable for any incidental damages resulting from the use of information presented here, information deemed true and correct. Comments, questions, or corrections should be sent to: webmaster@nipperbou.com.

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