It’s the size of the tap...

It is important to understand that Peak Oil is not about oil 'running out' (which, of course it will do one day, eventually). Rather, as the good folk at the Oil Drum like to put it it: "It’s the size of the tap, not the size of the tank."

Gail Tverberg states the case with clarity and precision:

"On a worldwide basis, the phenomenon of peak oil can be thought of as a crisis in resources needed to produce oil. It’s the size of the tap, not the size of the tank. As we deplete the large, easy-to-produce fields and move to ever-more-difficult fields, it takes more and more oil rigs, more petroleum engineers, and more investment dollars.

Eventually we reach a point where we are out of equipment, out of trained personnel, and the investment cost for expanding production becomes prohibitive. When production begins to drop because of all of these pressures, we reach peak oil'." 

I highly recommend reading the full article ' What is Peak Oil?'.

Peak Oil moving up the agenda?

(Note: this post has also been published on my personal blog)

Good to see that EU Energy Commissioner Andris Piebalgs acknowledging the existence of Peak Oil in his blog. His latest post is worth reading for an insight into some of the thinking taking place in Brussels.

While you're there, take a look at the comments further down the page. One response is from a Doomer, which is interesting only to demonstrate the ridiculous knots these people can tie themselves in. A more considered, and critical, response, is from Euan Mearns, editor of the excellent Oil Drum (Europe).

Also good to discover the All Party Parliamentary Group on Peak Oil and Gas (APPGOPO). I had no idea such a group existed in UK politics!

They have a useful website with MP3s of talks, including one by Rob Hopkins on Transition Towns, well worth downloading from the site. There is also a link to an online petition urging the government to re-evaluate their position on an imminent peak in global oil production.

So...good to see Peak Oil slowly making its way into the mainstream and here's hoping we'll get something in the regional and Ely press soon.