Tag «oil depletion»

Brace for impact

Famed energy scholar Richard Heinberg is extremely conservative with his estimates, and he has updated his forecast. Whereas in spring 2009 he was predicting the industrial age would run until 2014 or perhaps even 2016, he’s changed his tune. Radically. Now he says it’s coming to a halt this autumn, a forecast that matches the …

More of the same from the cheerleader-in-chief

“Without extra investment to raise production, the natural annual rate of output decline is 9.1 per cent.” Energy experts generally agree that a 2 per cent annual decline in extraction of crude oil translate to reasonably painful adaptation and the cessation of economic growth, a five per cent declines spell very painful adjustments and an economic depression of unprecedented magnitude, and a ten per cent decline means societal breakdown at a monumental scale.