'Significant Risk' Of Oil Production Peaking In Ten Years, Report Finds

Deidra Campbell
10/16/2009
4:19p

By 2030, it seems as though oil distribution and use will be at its peak. However, there is the impression that this peak will be reached by 2020. Not only will the UK not be prepared for this event, it seems as though many other countries are unprepared as well. This is still true despite oil is supplying a third of the world's energy. The finding of oil is slowing down as well as expensive, even with recent findings in the Gulf of Mexico. It has been said that these findings would only last for days or just weeks. Simply maintaining global production at today's level would need the equivalent of a new Saudi Arabia every three years. Because of the world's dependence on oil this upcoming event would encourage the more development of alternative fuels. Some of these developments include carbon-intensive alternatives that will more than likely affect global warming. The data that was found in the report is inconclusive to an extent because the global oil depletion is going to be contingent upon the governments and a great deal of funding into the new energy technologies.


I personally believe that this new report has shed more light on the fact 2020-2030 is not that far off and we need to make some progress on becoming less dependent on foreign oil , and also to invest more funding into newer technologies that will not only be beneficial in the long run, but will not corrupt the environment anymore than it already is. I believe we all need to get on board to make small changes that will make greater impacts on a global scale as well.

http://www.sciencedaily.com/releases/2009/10/091007223743.htm