peak oil forecasts
There's a lot of debate about the phenomenon of peak oil production. The February 2007 Hirsch Report [494 KB PDF file] commissioned by the US Department of Energy provides an update of a February 2005 report summarising a range of forecasts, from those who think the peak has passed to those who think it will never happen. The key point made is that regardless of who you choose to believe, peak oil presents a risk management situation of unprecedented proportions. Consider this from the 2005 report, reiterated in the update:
Mitigation will require an intense effort over decades. This inescapable conclusion is based on the time required to replace vast numbers of liquid fuel consuming vehicles and the time required to build a substantial number of substitute fuel production facilities. Our scenarios analysis shows:
- Waiting until world oil production peaks before taking crash program action would leave the world with a significant liquid fuel deficit for more than two decades.
- Initiating a mitigation crash program 10 years before world oil peaking helps considerably but still leaves a liquid fuels shortfall roughly a decade after the time that oil would have peaked.
- Initiating a mitigation crash program 20 years before peaking appears to offer the possibility of avoiding a world liquid fuels shortfall for the forecast period.
Update on 10 June 2007: A couple of people have told me - too late - about a screening in Cape Town of the movie The Power of Community: How Cuba Survived Peak Oil. Damn. Sounds like there are some useful lessons there. Apparently Cuba's organic revolution was born of the need to make do without oil: farm and transport equipment ground to a halt as the oil taps were shut off. And with the loss of Soviet food subsidies and sugar cane markets, they had to get creative. Fast. I am told the country now has a very low carbon footprint as a result. According to the WWF's The Living Planet Report 2006, Cuba is the only country in the world showing sustainable development.