Peak Oil is Here, but don’t worry, there is still plenty of oil, we just can’t afford it (Video)

Peak Oil – Nature took 10’s of Millions of years to produce fossil fuels, we have used up most of it in a few hundred years

Peak oil is here, there is no doubt about it. But the industry (and our politicians) say there is plenty of fossil fuels still, termed “UN-conventional oil”, or “UN-conventional fossil fuels”. So what does that mean exactly. Well UN-conventional oil is simply oil and gas reserves that we extract using UN-conventional methods from UN-conventional sources, such as tar-sands and fracking. Now what’s important to understand is these sources of oil have been known about for decades (or more) but the process of extraction is so involved and costly (financially and to an even greater extend environmentally) that they were not viable. So what has changed. Well that’s simple, the price of fossil fuels has increased so dramatically (because demand has outstripped supply) that  these UN-conventional sources are now being explored and exploited. But think of what this is really telling us … fossil fuel prices are never going to come down (not only because of very high demand, but more importantly because IF the price of fossil fuels were to drop, UN-conventional oil would not be viable, which results in less fossil fuels to supply the high demand). And what is this really telling us … high fossil fuel prices is not a short term thing that is going to be “fixed”, it is our new reality and the prices are only going to go UP.

Considering our entire society is based around cheap abundant fossil fuels this is not good news. Food for thought.

Here’s a short, well done video, give it a watch;  DON’T WORRY, DRIVE ON: Fossil Fools & Fracking Lies