The mitigation of peak oil is the attempt to delay the date and minimize the social and economic effects of
peak oil
Peak oil is the hypothetical point in time when the maximum rate of global oil production is reached, after which it is argued that production will begin an irreversible decline. It is related to the distinct concept of oil depletion; while ...
by reducing the
consumption
Consumption may refer to:
*Resource consumption
*Tuberculosis, an infectious disease, historically
* Consumption (ecology), receipt of energy by consuming other organisms
* Consumption (economics), the purchasing of newly produced goods for curren ...
of and
reliance on
petroleum
Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...
. By reducing petroleum consumption, mitigation efforts seek to favorably change the shape of the
Hubbert curve
The Hubbert curve is an approximation of the production rate of a resource over time. It is a symmetric logistic distribution curve, often confused with the "normal" gaussian function. It first appeared in "Nuclear Energy and the Fossil Fuels ...
, which is the graph of real oil production over time predicted by
Hubbert peak theory
The Hubbert peak theory says that for any given geographical area, from an individual oil-producing region to the planet as a whole, the rate of petroleum production tends to follow a bell-shaped curve. It is one of the primary theories on peak ...
. The peak of this curve is known as peak oil, and by changing the shape of the curve, the timing of the peak in oil production is affected. An analysis by the author of the
Hirsch report
The Hirsch report, the commonly referred to name for the report Peaking of World Oil Production: Impacts, Mitigation, and Risk Management, was created by request for the US Department of Energy and published in February 2005.
Some information was ...
showed that while the shape of the oil production curve can be affected by mitigation efforts, mitigation efforts are also affected by the shape of Hubbert curve.
For the most part, mitigation involves
fuel conservation, and the use of
alternative
Alternative or alternate may refer to:
Arts, entertainment and media
* Alternative (''Kamen Rider''), a character in the Japanese TV series ''Kamen Rider Ryuki''
* ''The Alternative'' (film), a 1978 Australian television film
* ''The Alternative ...
and
renewable energy
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy ...
sources. The development of
unconventional oil
Unconventional oil is petroleum produced or extracted using techniques other than the conventional method (oil well). Industry and governments across the globe are investing in unconventional oil sources due to the increasing scarcity of conventio ...
resources can extend the supply of petroleum,
[
] but does not reduce consumption.
Historically, world oil consumption data show that mitigation efforts during the
1973
Events January
* January 1 - The United Kingdom, the Republic of Ireland and Denmark enter the European Economic Community, which later becomes the European Union.
* January 15 – Vietnam War: Citing progress in peace negotiations, U.S. ...
and
1979 oil shocks lowered oil consumption, while general
recession
In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various ...
s since the 1970s have had no effect on curbing the oil consumption until 2007. In the United States, oil consumption declines in reaction to high prices.
Key questions for mitigation are the viability of methods, the roles of government and private sector and how early these solutions are implemented. The responses to such questions and steps taken towards mitigation may determine whether or not the
lifestyle
Lifestyle often refers to:
* Lifestyle (sociology), the way a person lives
* ''Otium'', ancient Roman concept of a lifestyle
* Style of life (german: Lebensstil, link=no), dealing with the dynamics of personality
Lifestyle may also refer to:
Bus ...
of a society can be maintained, and may affect the
population capacity of the planet.
Alternative energy
The most effective method of mitigating peak oil is to use
renewable
A renewable resource, also known as a flow resource, is a natural resource which will replenish to replace the portion depleted by usage and consumption, either through natural reproduction or other recurring processes in a finite amount of ti ...
or
alternative energy
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a Orders of magnitude (time), human timescale. It includes sources such as Solar power, sunlight, wind power, wind, the movement of Hydropo ...
sources in place of petroleum.
Nuclear power
Nuclear power is the use of nuclear reactions to produce electricity. Nuclear power can be obtained from nuclear fission, nuclear decay and nuclear fusion reactions. Presently, the vast majority of electricity from nuclear power is produced b ...
, considered by some to be a viable alternative source, can be substituted for petroleum in some cases.
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...
is preparing for the post-peak oil future by building
pebble bed reactors
The pebble-bed reactor (PBR) is a design for a graphite-moderated, gas-cooled nuclear reactor. It is a type of very-high-temperature reactor (VHTR), one of the six classes of nuclear reactors in the Generation IV initiative.
The basic desig ...
configured to produce
hydrogen fuel
Hydrogen fuel refers to hydrogen which is burned as fuel with oxygen. It is zero-carbon, provided that it is created in a process that does not involve carbon. It can be used in fuel cells or internal combustion engines (see HICEV). Regarding hydr ...
from the
electrolysis of water
Electrolysis of water, also known as electrochemical water splitting, is the process of using electricity to decompose water into oxygen and hydrogen gas by electrolysis. Hydrogen gas released in this way can be used as hydrogen fuel, or remi ...
. The use of nuclear power is often a highly contentious issue because of
questions of the future availability of fuel and the dangerous nature of
nuclear waste
Radioactive waste is a type of hazardous waste that contains radioactive material. Radioactive waste is a result of many activities, including nuclear medicine, nuclear research, nuclear power generation, rare-earth mining, and nuclear weapons r ...
. Some current research projects are focused on
neutron-free fusion power, in which
hydrogen
Hydrogen is the chemical element with the symbol H and atomic number 1. Hydrogen is the lightest element. At standard conditions hydrogen is a gas of diatomic molecules having the formula . It is colorless, odorless, tasteless, non-toxic, an ...
and
boron
Boron is a chemical element with the symbol B and atomic number 5. In its crystalline form it is a brittle, dark, lustrous metalloid; in its amorphous form it is a brown powder. As the lightest element of the ''boron group'' it has th ...
are heated to over 1 billion degrees, though technical and economic barriers still exist.
In its October 2009 peak oil report, the Government-supported
UK Energy Research Centre
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
warned of the risk that 'rising
oil prices
The price of oil, or the oil price, generally refers to the spot price of a barrel () of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Refe ...
will encourage the rapid development of
carbon-intensive alternatives which will make it difficult or impossible to
prevent dangerous climate change[UKERC Report Finds ‘Significant Risk’ of Oil Production Peaking in Ten Years]
, October 08, 2009, UK Energy Research Centre
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
and stated that 'early investment in
low-carbon alternatives to conventional oil is of considerable importance' in avoiding this scenario.
Iceland was the first country to suggest transitioning to
100% renewable energy
100% renewable energy means getting all energy from renewable resources. The endeavor to use 100% renewable energy for electricity, heating, cooling and transport is motivated by climate change, pollution and other environmental issues, ...
, using hydrogen for vehicles and its fishing fleet, in 1998, but the actual progress has been very limited.
Transportation fuel use
Because most oil is consumed for
transportation
Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, ...
most mitigation discussions revolve around transportation issues.
Fuel substitution
While there is some interchangeability, the alternative energy sources available tend to depend on whether the fuel is being used in static or mobile applications.
Biofuel
The use of biofuels, which are
fuel
A fuel is any material that can be made to react with other substances so that it releases energy as thermal energy or to be used for work. The concept was originally applied solely to those materials capable of releasing chemical energy but ...
s derived from recently dead
biological material, reduces dependence on petroleum and enhances
energy security
Energy security is the association between national security and the availability of natural resources for energy consumption. Access to (relatively) cheap energy has become essential to the functioning of modern economies. However, the uneven ...
. Biofuels also play significant roles in the "
food vs fuel
Food versus fuel is the dilemma regarding the risk of diverting farmland or crops for biofuels production to the detriment of the food supply. The biofuel and food price debate involves wide-ranging views, and is a long-standing, controversial o ...
" debate, mitigation of
oil prices
The price of oil, or the oil price, generally refers to the spot price of a barrel () of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Refe ...
, and energy balance and efficiency.
Ethanol
Ethanol (abbr. EtOH; also called ethyl alcohol, grain alcohol, drinking alcohol, or simply alcohol) is an organic compound. It is an Alcohol (chemistry), alcohol with the chemical formula . Its formula can be also written as or (an ethyl ...
is a biofuel produced from crops high in sugar (e.g.,
sugar cane
Sugarcane or sugar cane is a species of (often hybrid) tall, perennial grass (in the genus ''Saccharum'', tribe Andropogoneae) that is used for sugar production. The plants are 2–6 m (6–20 ft) tall with stout, jointed, fibrous stalks t ...
,
sweet sorghum
Sweetness is a basic taste most commonly perceived when eating foods rich in sugars. Sweet tastes are generally regarded as pleasurable. In addition to sugars like sucrose, many other chemical compounds are sweet, including aldehydes, keto ...
) or
starch
Starch or amylum is a polymeric carbohydrate consisting of numerous glucose units joined by glycosidic bonds. This polysaccharide is produced by most green plants for energy storage. Worldwide, it is the most common carbohydrate in human diets ...
, (corn/
maize
Maize ( ; ''Zea mays'' subsp. ''mays'', from es, maíz after tnq, mahiz), also known as corn (North American and Australian English), is a cereal grain first domesticated by indigenous peoples in southern Mexico about 10,000 years ago. Th ...
). Biofuels can also be produced from plants that contain high amounts of
vegetable oil
Vegetable oils, or vegetable fats, are oils extracted from seeds or from other parts of fruits. Like animal fats, vegetable fats are ''mixtures'' of triglycerides. Soybean oil, grape seed oil, and cocoa butter are examples of seed oils, or fat ...
, such as
oil palm
''Elaeis'' () is a genus of palms containing two species, called oil palms. They are used in commercial agriculture in the production of palm oil. The African oil palm ''Elaeis guineensis'' (the species name ''guineensis'' referring to its co ...
,
soybean
The soybean, soy bean, or soya bean (''Glycine max'') is a species of legume native to East Asia, widely grown for its edible bean, which has numerous uses.
Traditional unfermented food uses of soybeans include soy milk, from which tofu an ...
,
algae
Algae (; singular alga ) is an informal term for a large and diverse group of photosynthetic eukaryotic organisms. It is a polyphyletic grouping that includes species from multiple distinct clades. Included organisms range from unicellular mic ...
,
switchgrass
''Panicum virgatum'', commonly known as switchgrass, is a perennial warm season bunchgrass native to North America, where it occurs naturally from 55°N latitude in Canada southwards into the United States and Mexico. Switchgrass is one of the ...
, or
jatropha
''Jatropha'' is a genus of flowering plants in the spurge family, Euphorbiaceae. The name is derived from the Greek words ἰατρός (''iatros''), meaning "physician", and τροφή (''trophe''), meaning "nutrition", hence the common name ...
. These oils can be burned directly in certain designs of
diesel engines
The diesel engine, named after Rudolf Diesel, is an internal combustion engine in which ignition of the fuel is caused by the elevated temperature of the air in the cylinder due to mechanical compression; thus, the diesel engine is a so-calle ...
, or they can be chemically processed to produce fuels such as
biodiesel
Biodiesel is a form of diesel fuel derived from plants or animals and consisting of long-chain fatty acid esters. It is typically made by chemically reacting lipids such as animal fat (tallow), soybean oil, or some other vegetable oil with ...
. Wood and its byproducts can also be converted into biofuels such as
woodgas
Wood gas is a fuel gas that can be used for furnaces, stoves, and vehicles. During the production process, biomass or related carbon-containing materials are gasified within the oxygen-limited environment of a wood gas generator to produce a comb ...
,
methanol
Methanol (also called methyl alcohol and wood spirit, amongst other names) is an organic chemical and the simplest aliphatic alcohol, with the formula C H3 O H (a methyl group linked to a hydroxyl group, often abbreviated as MeOH). It is a ...
or
ethanol fuel
Ethanol fuel is ethyl alcohol, the same type of alcohol found in alcoholic beverages, used as fuel. It is most often used as a motor fuel, mainly as a biofuel additive for gasoline. The first production car running entirely on ethanol was the ...
.
It is also possible to make
cellulosic ethanol
Cellulosic ethanol is ethanol (ethyl alcohol) produced from cellulose (the stringy fiber of a plant) rather than from the plant's seeds or fruit. It can be produced from grasses, wood, algae, or other plants. It is generally discussed for use as a ...
from non-edible plant parts, but this can be difficult to accomplish economically. Biofuels are most commonly used in
vehicles
A vehicle (from la, vehiculum) is a machine that transports people or cargo. Vehicles include wagons, bicycles, motor vehicles (motorcycles, cars, trucks, buses, mobility scooters for disabled people), railed vehicles (trains, trams), wate ...
, and in heating homes, and
cooking
Cooking, cookery, or culinary arts is the art, science and craft of using heat to Outline of food preparation, prepare food for consumption. Cooking techniques and ingredients vary widely, from grilling food over an open fire to using electric ...
. Biofuel industries are expanding in
Europe
Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...
,
Asia
Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...
and the
Americas
The Americas, which are sometimes collectively called America, are a landmass comprising the totality of North and South America. The Americas make up most of the land in Earth's Western Hemisphere and comprise the New World.
Along with th ...
.
Several firms have successfully created petroleum products in the lab using either solid catalysts or genetically modified microorganisms. As of July, 2008, such firms are producing petroleum products in very small quantities, but hope to increase production over the next few years.
Static installations
The substitution of oil with other
fossil fuel
A fossil fuel is a hydrocarbon-containing material formed naturally in the Earth's crust from the remains of dead plants and animals that is extracted and burned as a fuel. The main fossil fuels are coal, oil, and natural gas. Fossil fuels m ...
s is theoretically relatively easy when static installations are concerned, as in the case for
electricity generation
Electricity generation is the process of generating electric power from sources of primary energy. For electric utility, utilities in the electric power industry, it is the stage prior to its Electricity delivery, delivery (Electric power transmi ...
. Reserves of
coal
Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements, chiefly hydrogen, sulfur, oxygen, and nitrogen.
Coal is formed when dea ...
are substantial, and the technology to use it is well established. Increasing the use of coal, however, would lead to higher
carbon emissions
Greenhouse gas emissions from human activities strengthen the greenhouse effect, contributing to climate change. Most is carbon dioxide from burning fossil fuels: coal, oil, and natural gas. The largest emitters include coal in China and larg ...
which is likely to be politically unacceptable in many countries due to the implications of
global warming
In common usage, climate change describes global warming—the ongoing increase in global average temperature—and its effects on Earth's climate system. Climate change in a broader sense also includes previous long-term changes to E ...
, although
carbon capture and storage
Carbon capture and storage (CCS) or carbon capture and sequestration is the process of capturing carbon dioxide (CO2) before it enters the atmosphere, transporting it, and storing it (carbon sequestration) for centuries or millennia. Usually th ...
may provide a solution.
Natural gas
Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...
is another alternative, and
combined cycle
A combined cycle power plant is an assembly of heat engines that work in tandem from the same source of heat, converting it into mechanical energy. On land, when used to make electricity the most common type is called a combined cycle gas turb ...
power generation using natural gas is the cleanest source of power available using fossil fuels, producing about 30% less
carbon dioxide
Carbon dioxide (chemical formula ) is a chemical compound made up of molecules that each have one carbon atom covalently double bonded to two oxygen atoms. It is found in the gas state at room temperature. In the air, carbon dioxide is transpar ...
than burning
petroleum
Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...
and about 45% less than burning
coal
Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements, chiefly hydrogen, sulfur, oxygen, and nitrogen.
Coal is formed when dea ...
. The major difficulty in the use of natural gas is
transport
Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, an ...
ation and
storage because of its low density. Natural gas
pipelines are economical, but are impractical across
ocean
The ocean (also the sea or the world ocean) is the body of salt water that covers approximately 70.8% of the surface of Earth and contains 97% of Earth's water. An ocean can also refer to any of the large bodies of water into which the wo ...
s.
Mobile applications
Due to its high
energy density
In physics, energy density is the amount of energy stored in a given system or region of space per unit volume. It is sometimes confused with energy per unit mass which is properly called specific energy or .
Often only the ''useful'' or extract ...
and
ease of handling, oil has a unique role as a
transportation
Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, ...
fuel. There are, however, a number of possible alternatives. Among the
biofuel
Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels, such as oil. According to the United States Energy Information Administration (E ...
s the use of
bioethanol
Ethanol (abbr. EtOH; also called ethyl alcohol, grain alcohol, drinking alcohol, or simply alcohol) is an organic compound. It is an Alcohol (chemistry), alcohol with the chemical formula . Its formula can be also written as or (an ethyl ...
and
biodiesel
Biodiesel is a form of diesel fuel derived from plants or animals and consisting of long-chain fatty acid esters. It is typically made by chemically reacting lipids such as animal fat (tallow), soybean oil, or some other vegetable oil with ...
is already established to some extent in some countries.
The use of
hydrogen fuel
Hydrogen fuel refers to hydrogen which is burned as fuel with oxygen. It is zero-carbon, provided that it is created in a process that does not involve carbon. It can be used in fuel cells or internal combustion engines (see HICEV). Regarding hydr ...
is another alternative under development in various countries, alongside,
hydrogen vehicle
A hydrogen vehicle is a vehicle that uses hydrogen fuel for motive power. Hydrogen vehicles include hydrogen-fueled space rockets, as well as ships and aircraft. Power is generated by converting the chemical energy of hydrogen to mechanical energ ...
s
though hydrogen is actually an energy storage medium, not a
primary energy
Primary energy (PE) is an energy form found in nature that has not been subjected to any human engineered conversion process. It is energy contained in raw fuels, and other forms of energy, including waste, received as input to a system. Pr ...
source, and consequently the use of a non-petroleum source would be required to extract the hydrogen for use. Though hydrogen is currently outperformed in terms of cost and efficiency by battery powered vehicles, there are applications where it would come in useful. Short haul ferries and very cold climates are two examples. Hydrogen fuel cells are about a third as efficient as batteries and double the efficiency of gasoline vehicles.
Electric vehicles powered by batteries are another alternative, and these have the advantage of having the highest well-to-wheels efficiency rate of any energy pathway and thus would allow much greater numbers of vehicles than any other methods. In addition, even if the electricity was sourced from coal-fired power plants, two advantages would remain: first it is cheaper to
sequester carbon from a few thousand smokestacks than it is to retrofit hundreds of millions of vehicles, and second encouraging the use of electric vehicles allows a further pathway for scaling up of
renewable energy
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy ...
sources.
Currently the cost of batteries capable powering electric vehicles for a range (comparable to the range of many gasoline vehicles) is prohibitively high, though producing batteries for
plug-in hybrid
A plug-in hybrid electric vehicle (PHEV) is a hybrid electric vehicle whose battery pack can be recharged by plugging a charging cable into an external electric power source, in addition to internally by its on-board internal combustion engin ...
s with a range could be done with current technology and current pricing models within the reach of the average person. A plug-in hybrid with a range would have the advantage that it uses no gasoline or diesel at all for the first 40 miles (a distance covering 80% of all vehicle commutes).
Unfortunately there are currently no production models of plug-in hybrids or
alternative fuel vehicle
An alternative fuel vehicle is a motor vehicle that runs on alternative fuel rather than traditional petroleum fuels (petrol or diesel fuel, petrodiesel). The term also refers to any technology (e.g. electric car, hybrid electric vehicles, Solar ...
s (other than
flex fuel
A flexible-fuel vehicle (FFV) or dual-fuel vehicle (colloquially called a flex-fuel vehicle) is an alternative fuel vehicle with an internal combustion engine designed to run on more than one fuel, usually gasoline blended with either ethanol or ...
) available from big manufacturers, though both
Toyota
is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on . Toyota is one of the largest automobile manufacturers in the world, producing about 10 ...
and
General Motors
The General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and ...
have promised versions around 2010. Fully electric vehicles are available from
Tesla Motors
Tesla, Inc. ( or ) is an American multinational automotive and clean energy company headquartered in Austin, Texas. Tesla designs and manufactures electric vehicles (electric cars and electric truck, trucks), battery energy storage from ...
for their high priced sports car and also a small city vehicle from
Th!nk in Norway, in limited production runs in Norway and the UK.
Alternative aviation fuel
The
Airbus A380
The Airbus A380 is a large wide-body airliner that was developed and produced by Airbus. It is the world's largest passenger airliner and only full-length double-deck jet airliner.
Airbus studies started in 1988, and the project was annou ...
flew on alternative fuel for the first time on 1 February 2008.
Boeing
The Boeing Company () is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The company also provides leasing and product ...
also plans to use alternative fuel on the
747. Because some biofuels such as ethanol contains less energy, more "tankstops" might be necessary for such planes.
The US Air Force is currently in the process of certifying its entire fleet to run on a 50/50 blend of synthetic fuel derived from the
Fischer–Tropsch process
The Fischer–Tropsch process is a collection of chemical reactions that converts a mixture of carbon monoxide and hydrogen, known as syngas, into liquid hydrocarbons. These reactions occur in the presence of metal catalysts, typically at temperat ...
and
JP-8
JP-8, or JP8 (for "Jet Propellant 8") is a jet fuel, specified and used widely by the US military. It is specified by MIL-DTL-83133 and British Defence Standard 91-87, and similar to commercial aviation's Jet A-1, but with the addition of corrosio ...
jet fuel.
Conservation
When alternative fuels are not available, the development of more energy efficient
vehicle
A vehicle (from la, vehiculum) is a machine that transports people or cargo. Vehicles include wagons, bicycles, motor vehicles (motorcycles, cars, trucks, buses, mobility scooters for disabled people), railed vehicles (trains, trams), wa ...
s becomes an important mitigant. Some ways of decreasing the oil used in transportation include increasing the use of
bicycles
A bicycle, also called a pedal cycle, bike or cycle, is a human-powered or motor-powered assisted, pedal-driven, single-track vehicle, having two wheels attached to a frame, one behind the other. A is called a cyclist, or bicyclist.
Bic ...
,
public transport
Public transport (also known as public transportation, public transit, mass transit, or simply transit) is a system of transport for passengers by group travel systems available for use by the general public unlike private transport, typical ...
,
carpooling
Carpooling (also car-sharing, ride-sharing and lift-sharing) is the sharing of Automobile, car journeys so that more than one person travels in a car, and prevents the need for others to have to drive to a location themselves.
By having more ...
,
electric vehicles
An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes cha ...
, and
diesel
Diesel may refer to:
* Diesel engine, an internal combustion engine where ignition is caused by compression
* Diesel fuel, a liquid fuel used in diesel engines
* Diesel locomotive, a railway locomotive in which the prime mover is a diesel engin ...
and
hybrid vehicles
A hybrid vehicle is one that uses two or more distinct types of power, such as submarines that use diesel when surfaced and batteries when submerged. Other means to store energy include pressurized fluid in hydraulic hybrids.
The basic princip ...
with higher
fuel efficiency
Fuel efficiency is a form of thermal efficiency, meaning the ratio of effort to result of a process that converts chemical potential energy contained in a carrier (fuel) into kinetic energy or work. Overall fuel efficiency may vary per device, wh ...
.
More comprehensive mitigations include better land use planning through
smart growth
Smart growth is an urban planning and transportation theory that concentrates growth in compact walkable urban centers to avoid sprawl. It also advocates compact, transit-oriented, walkable, bicycle-friendly land use, including neighborhood sch ...
to reduce the need for private transportation, increased capacity and use of
mass transit
Public transport (also known as public transportation, public transit, mass transit, or simply transit) is a system of transport for passengers by group travel systems available for use by the general public unlike private transport, typical ...
,
vanpool
Vanpools or Vanpooling is an element of the transit system that allow groups of people to share the ride similar to a carpool, but on a larger scale with concurrent savings in fuel and vehicle operating costs and thus usually a lower cost to the ...
ing and
carpool
Carpooling (also car-sharing, ride-sharing and lift-sharing) is the sharing of car journeys so that more than one person travels in a car, and prevents the need for others to have to drive to a location themselves.
By having more people usi ...
ing,
bus rapid transit
Bus rapid transit (BRT), also called a busway or transitway, is a bus-based public transport system designed to have much more capacity, reliability and other quality features than a conventional bus system. Typically, a BRT system includes ...
,
remote work
Remote work, also called work from home (WFH), work from anywhere, telework, remote job, mobile work, and distance work is an employment arrangement in which employees do not commute to a central place of work, such as an office building, ware ...
, and
human-powered transport
Human-powered transport is the transport of person(s) and/or goods using human muscle power. Unlike animal-powered transport, human-powered transport has existed since time immemorial in the form of walking, running and swimming. Modern techno ...
from current levels. Rationing and driving bans are also forms of reducing private transportation.
The
higher oil prices of 2007 and 2008 caused United States drivers to begin driving less in 2007 and to a much greater extent in the first three months of 2008.
In order to deal with potential problems from peak oil,
Colin Campbell Colin may refer to:
* Colin (given name)
* Colin (surname)
* ''Colin'' (film), a 2008 Cannes film festival zombie movie
* Colin (horse) (1905–1932), thoroughbred racehorse
* Colin (humpback whale), a humpback whale calf abandoned north of Sydney, ...
has proposed the
Rimini protocol
The Rimini Protocol is a proposal made by the geologist Colin Campbell. It is intended to stabilise oil prices and minimise the effects of peak oil. It is named after the XXIX. Annual Conference ''The Economics of the Noble Path: Fraternal Rights, ...
, a plan which among other things would require countries to balance oil consumption with their current production.
Unconventional oil
Unconventional oil is oil produced or extracted using techniques other than the traditional
oil well
An oil well is a drillhole boring in Earth that is designed to bring petroleum oil hydrocarbons to the surface. Usually some natural gas is released as associated petroleum gas along with the oil. A well that is designed to produce only gas may ...
method from sources such as
oil sand
Oil sands, tar sands, crude bitumen, or bituminous sands, are a type of unconventional petroleum deposit. Oil sands are either loose sands or partially consolidated sandstone containing a naturally occurring mixture of sand, clay, and wate ...
s,
oil shale
Oil shale is an organic-rich fine-grained sedimentary rock containing kerogen (a solid mixture of organic chemical compounds) from which liquid hydrocarbons can be produced. In addition to kerogen, general composition of oil shales constitute ...
and the conversion of
coal
Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements, chiefly hydrogen, sulfur, oxygen, and nitrogen.
Coal is formed when dea ...
or
natural gas
Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...
to liquid
hydrocarbons
In organic chemistry, a hydrocarbon is an organic compound consisting entirely of hydrogen and carbon. Hydrocarbons are examples of group 14 hydrides. Hydrocarbons are generally colourless and hydrophobic, and their odors are usually weak or ex ...
through processes such as
Fischer–Tropsch synthesis. Currently, unconventional oil production is less efficient and has a larger environmental impact relative to conventional oil production. Compared to conventional oil, much more energy is required to extract oil from non-conventional sources, so increasing costs and
carbon emissions
Greenhouse gas emissions from human activities strengthen the greenhouse effect, contributing to climate change. Most is carbon dioxide from burning fossil fuels: coal, oil, and natural gas. The largest emitters include coal in China and larg ...
. Technology, such as using steam injection in oil sands deposits, is being developed to increase the efficiency of unconventional oil production.
Synthetic fuel
Synthetic fuel or synfuel is a liquid fuel, or sometimes gaseous fuel, obtained from syngas, a mixture of carbon monoxide and hydrogen, in which the syngas was derived from gasification of solid feedstocks such as coal or biomass or by reforming ...
, created via
coal
Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements, chiefly hydrogen, sulfur, oxygen, and nitrogen.
Coal is formed when dea ...
liquefaction, requires no engine modifications for use in standard automobiles. As a byproduct of oil embargoes during
Apartheid
Apartheid (, especially South African English: , ; , "aparthood") was a system of institutionalised racial segregation that existed in South Africa and South West Africa (now Namibia) from 1948 to the early 1990s. Apartheid was ...
in
South Africa
South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countri ...
,
Sasol
Sasol Limited is an integrated energy and chemical company based in Sandton, South Africa. The company was formed in 1950 in Sasolburg, South Africa and built on processes that were first developed by German chemists and engineers in the early ...
, using the
Fischer–Tropsch process
The Fischer–Tropsch process is a collection of chemical reactions that converts a mixture of carbon monoxide and hydrogen, known as syngas, into liquid hydrocarbons. These reactions occur in the presence of metal catalysts, typically at temperat ...
, developed relatively low-cost coal-based fuel. Currently, about 30% of South Africa's transport-fuel (mostly diesel) is produced from coal. With crude-oil prices above
US$
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...
40 per barrel, this process is now cost-effective.
Masdar, an experiment in mitigation
One government which is moving forward with mitigation plans is the emirate of
Abu Dhabi
Abu Dhabi (, ; ar, أَبُو ظَبْيٍ ' ) is the capital and second-most populous city (after Dubai) of the United Arab Emirates. It is also the capital of the Emirate of Abu Dhabi and the centre of the Abu Dhabi Metropolitan Area.
...
. The
United Arab Emirates
The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia (The Middle East). It is located at th ...
economy minister stated in 2007 that the UAE do not believe that relying on oil revenues is sustainable, and so are moving to diversify their economies. Besides allotting land for solar power plants and partnering with
Massachusetts Institute of Technology
The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...
to build an
alternative energy
Renewable energy is energy that is collected from renewable resources that are naturally replenished on a Orders of magnitude (time), human timescale. It includes sources such as Solar power, sunlight, wind power, wind, the movement of Hydropo ...
research institute, a new city is being constructed east-southeast of the city of
Abu Dhabi
Abu Dhabi (, ; ar, أَبُو ظَبْيٍ ' ) is the capital and second-most populous city (after Dubai) of the United Arab Emirates. It is also the capital of the Emirate of Abu Dhabi and the centre of the Abu Dhabi Metropolitan Area.
...
, which will rely entirely on
solar energy
Solar energy is radiant light and heat from the Sun that is harnessed using a range of technologies such as solar power to generate electricity, solar thermal energy (including solar water heating), and solar architecture. It is an essenti ...
, with a
sustainable
Specific definitions of sustainability are difficult to agree on and have varied in the literature and over time. The concept of sustainability can be used to guide decisions at the global, national, and individual levels (e.g. sustainable livin ...
,
zero-carbon
Carbon neutrality is a state of net-zero carbon dioxide emissions. This can be achieved by balancing emissions of carbon dioxide with its removal (often through carbon offsetting) or by eliminating emissions from society (the transition to the "p ...
,
zero-waste
Zero waste is a set of principles focused on waste prevention that encourages redesigning resource life cycles so that all products are reused. The goal of this movement is to avoid sending trash to landfills, incinerators, or the ocean. Curren ...
ecology. Known as
Masdar
Masdar,(Arabic:مصدر), also known as the Abu Dhabi Future Energy Company, is a UAE-government owned renewable energy company based in Abu Dhabi, United Arab Emirates. Masdar is a subsidiary of Mubadala Development Company and was founded by ...
(Arabic for ''source''), the initiative is headed by the
Abu Dhabi Future Energy Company
Masdar,(Arabic language, Arabic:مصدر), also known as the Abu Dhabi Future Energy Company, is a UAE-government owned renewable energy company based in Abu Dhabi, United Arab Emirates. Masdar is a subsidiary of Mubadala Development Company a ...
(ADFEC) The project is estimated to take some 10 years to complete, with the first phase complete and habitable in 2009, and a goal of housing 50,000 people and 1,500 businesses.
The city is intended to cover , with no point further than 200 m from a solar powered
personal rapid transit
Personal rapid transit (PRT), also referred to as podcars or guided/railed taxis, is a public transport mode featuring small low-capacity automated vehicles operating on a network of specially built guideways. PRT is a type of automated guideway ...
link,
housing energy, science and technology communities, commercial areas, a university, and the headquarters of the Future Energy Company.
By relying on sustainable energy sources, keeping cars out of the city, returning to older architectural conventions (such as reducing air conditioning costs with large tents and narrow spaces between buildings), using sewage to produce energy and create soil, taking advantage of all recycling opportunities (including for and from construction), and reusing gray water, Masdar is designed to be a city which will consume no oil.
Bioplastics
Another major factor in petroleum demand is the widespread use of petroleum products such as
plastic
Plastics are a wide range of synthetic or semi-synthetic materials that use polymers as a main ingredient. Their plasticity makes it possible for plastics to be moulded, extruded or pressed into solid objects of various shapes. This adaptab ...
. These could be partially replaced by bioplastics, which are derived from renewable plant feedstocks such as vegetable oil,
corn starch
Corn starch, maize starch, or cornflour (British English) is the starch derived from corn (maize) grain. The starch is obtained from the endosperm of the kernel. Corn starch is a common food ingredient, often used to thicken sauces or sou ...
, hemp plants, pea starch, or
microbiota
Microbiota are the range of microorganisms that may be commensal, symbiotic, or pathogenic found in and on all multicellular organisms, including plants. Microbiota include bacteria, archaea, protists, fungi, and viruses, and have been found t ...
. They are used either as a direct replacement for traditional plastics or as blends with traditional plastics. The most common end use market is for packaging materials. Japan has also been a pioneer in bioplastics, incorporating them into electronics and automobiles.
US government debate over mitigation strategies
Part of the current debate revolves around energy policy, and whether to shift funding to increasing
energy conservation
Energy conservation is the effort to reduce wasteful energy consumption by using fewer energy services. This can be done by using energy more effectively (using less energy for continuous service) or changing one's behavior to use less service (f ...
,
fuel efficiency
Fuel efficiency is a form of thermal efficiency, meaning the ratio of effort to result of a process that converts chemical potential energy contained in a carrier (fuel) into kinetic energy or work. Overall fuel efficiency may vary per device, wh ...
, or other energy sources like
solar,
wind
Wind is the natural movement of air or other gases relative to a planet's surface. Winds occur on a range of scales, from thunderstorm flows lasting tens of minutes, to local breezes generated by heating of land surfaces and lasting a few hou ...
, and
nuclear power
Nuclear power is the use of nuclear reactions to produce electricity. Nuclear power can be obtained from nuclear fission, nuclear decay and nuclear fusion reactions. Presently, the vast majority of electricity from nuclear power is produced b ...
. At congressional peak oil hearings, Rep.
Tom Udall
Thomas Stewart Udall ( ; born May 18, 1948) is an American diplomat, lawyer and politician serving as the United States Ambassador to New Zealand and Samoa since 2021. A member of the Democratic Party, he served as a United States senator from N ...
argued that while rising oil prices would encourage alternatives (both on the supply and demand side), the costs and impacts of other issues involved with petroleum based personal transportation (such as pollution, the economic
effects of global warming
The effects of climate change impact the physical environment, ecosystems and human societies. The environmental effects of climate change are broad and far-reaching. They affect the Effects of climate change on the water cycle, water cycle, ...
, security threats caused by sending vast amounts of money to the Middle East, and the costs of road maintenance) should also be taken into account. "Because the price of oil is artificially low, significant private investment in alternative technologies that provide a long-term payback does not exist. Until oil and its alternatives compete in a fair market, new technologies will not thrive."
In 2005, the
Congressional Budget Office
The Congressional Budget Office (CBO) is a federal agency within the legislative branch of the United States government that provides budget and economic information to Congress.
Inspired by California's Legislative Analyst's Office that manages ...
suggested that, "the federal government could more effectively increase the efficiency of the nation's automotive fleet by raising gasoline taxes, imposing user fees on the purchase of
low-mileage-per-gallon vehicles, or both." This would give automakers more incentive to research alternative fuel technology and increased efficiency (through lighter vehicles, better aerodynamics, and less wasted energy).
Hans-Holger Rogner, a section head at the
IAEA
The International Atomic Energy Agency (IAEA) is an intergovernmental organization that seeks to promote the peaceful use of nuclear energy and to inhibit its use for any military purpose, including nuclear weapons. It was established in 1957 ...
, warned in 1997 that the level of incentive required for market driven research and development will actually rise. Because production costs are not expected to decrease and because of the continued emphasis companies give to short-term profits, "a regional breakdown for 11 world regions indicates that neither hydrocarbon resource availability nor costs are likely to become forces that automatically would help wean the global energy system from the use of fossil fuel during the next century."
The problems of privately funded research and development are not unique to peak oil mitigation. Bronwyn H. Hall, graduate economics professor at the
Haas School of Business
The Walter A. Haas School of Business, also known as Berkeley Haas, is the business school of the University of California, Berkeley, a public research university in Berkeley, California. It was the first business school at a public university i ...
, points out that, "even if problems associated with incomplete appropriability of the returns to
R&D are solved using
intellectual property
Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The best-known types are patents, cop ...
protection,
subsidies
A subsidy or government incentive is a form of financial aid or support extended to an economic sector (business, or individual) generally with the aim of promoting economic and social policy. Although commonly extended from the government, the ter ...
, or tax incentives, it may still be difficult or costly to finance R&D using capital from sources external to the firm or entrepreneur. That is, there is often a wedge, sometimes large, between the rate of return required by an entrepreneur investing his own funds and that required by external investors."
The severity of the problem for energy is echoed in the
International Energy Agency
The International Energy Agency (IEA) is a Paris-based autonomous intergovernmental organisation, established in 1974, that provides policy recommendations, analysis and data on the entire global energy sector, with a recent focus on curbing carb ...
's latest report
In the US, transportation by car is guided more by the government than by an
invisible hand
The invisible hand is a metaphor used by the British moral philosopher Adam Smith that describes the unintended greater social benefits and public good brought about by individuals acting in their own self-interests. Smith originally mention ...
. Roads and the
interstate highway system
The Dwight D. Eisenhower National System of Interstate and Defense Highways, commonly known as the Interstate Highway System, is a network of controlled-access highways that forms part of the National Highway System in the United States. Th ...
were built by local, state and federal governments and paid for by
income tax
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Tax ...
es,
property tax
A property tax or millage rate is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or net wealth, taxes on the change of ownership of property through inheri ...
es,
fuel tax
A fuel tax (also known as a petrol, gasoline or gas tax, or as a fuel duty) is an excise tax imposed on the sale of fuel. In most countries the fuel tax is imposed on fuels which are intended for transportation. Fuels used to power agricultural v ...
es, and tolls. The
Strategic Petroleum Reserve is designed to offset market imbalances. Municipal
parking
Parking is the act of stopping and disengaging a vehicle and leaving it unoccupied. Parking on one or both sides of a road is often permitted, though sometimes with restrictions. Some buildings have parking facilities for use of the buildings' ...
is frequently subsidized.
Emission standard
Emission standards are the legal requirements governing air pollutants released into the atmosphere. Emission standards set quantitative limits on the permissible amount of specific air pollutants that may be released from specific sources over ...
s regulate
pollution
Pollution is the introduction of contaminants into the natural environment that cause adverse change. Pollution can take the form of any substance (solid, liquid, or gas) or energy (such as radioactivity, heat, sound, or light). Pollutants, the ...
by cars. US
fuel economy standards exist but are not high enough to have effect. There is also a
gas guzzler tax The Energy Tax Act (, , enacted November 9, 1978) is a law passed by the U.S. Congress as part of the National Energy Act. The objective of this law was to shift from oil and gas supply toward energy conservation; thus, to promote fuel efficiency an ...
of limited scope. The United States offers tax credits for certain vehicles and these frequently are
hybrids or
compressed natural gas
Compressed natural gas (CNG) is a fuel gas mainly composed of methane (CH4), compressed to less than 1% of the volume it occupies at standard atmospheric pressure. It is stored and distributed in hard containers at a pressure of , usually in cy ...
cars (see
Energy Policy Act of 2005
The Energy Policy Act of 2005 () is a federal law signed by President George W. Bush on August 8, 2005, at Sandia National Laboratories in Albuquerque, New Mexico. The act, described by proponents as an attempt to combat growing energy problems ...
).
In order to be profitable, many alternatives to oil require the price of oil to remain above some level. Investors in these alternatives must gamble with the limited data on oil reserves available. This imperfect information can lead to a
market failure
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value. Market failures can be viewed as scenarios where indiv ...
caused by a
move by nature. One explanation for this is
Hotelling's rule
Hotelling's rule defines the net price path as a function of time while maximizing economic rent in the time of fully extracting a non-renewable natural resource. The maximum rent is also known as Hotelling rent or scarcity rent and is the maximu ...
for
non-renewable resources
A non-renewable resource (also called a finite resource) is a natural resource that cannot be readily replaced by natural means at a pace quick enough to keep up with consumption. An example is carbon-based fossil fuels. The original organic mat ...
. Even with
perfect information
In economics, perfect information (sometimes referred to as "no hidden information") is a feature of perfect competition. With perfect information in a market, all consumers and producers have complete and instantaneous knowledge of all market pr ...
the price of oil correlates with spare capacity and spare capacity does not warn of a peak. For example, in the early 1960s (10 years before oil production peaked in the United States), there was enough spare capacity in US production that Hubbert's predicted peak of 1966-1971 was "at the very least completely unrealistic to most people," preventing the necessary steps being taken to mitigate the situation. The
absence of accurate information about spare production capacity exacerbates the current situation.
[
]
Lester Brown
Lester Russel Brown (born March 28, 1934) is an American environmental analyst, founder of the Worldwatch Institute, and founder and former president of the Earth Policy Institute, a nonprofit research organization based in Washington, D.C. BBC ...
believes this problem might be solved by the government establishing a
price floor
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium p ...
for oil. A
tax shift Tax shift or Tax swap is a change in taxation that eliminates or reduces one or several taxes and establishes or increases others while keeping the overall revenue the same. The term can refer to desired shifts, such as towards Pigovian taxes (typic ...
raising gas taxes is the same idea. Opponents of such a price floor argue that the markets would distrust the government's ability to keep the policy when oil prices are low.
In 2007, a Pentagon Report,
Space-Based Solar Power: An Opportunity for Strategic Security proposed
Space-Based Solar Power
Space-based solar power (SBSP, SSP) is the concept of collecting solar power in outer space by solar power satellites (SPS) and distributing it to Earth. Its advantages include a higher collection of energy due to the lack of reflection and ab ...
as a macro solution to peak oil and fossil fuel depletion. Recently
proposalfor US leadership in SBSP won the SECDEF D3 competition. Engineer Keith Henson discussed the scale in
Dollar a Gallon Gasoline. Mike Snead has recently assessed prospects for US fossil fuels and SSP in
US fossil fuel energy insecurity and space solar power. Snead and Henso recently put out
video
Implications of an unmitigated world peak
According to the
Hirsch report
The Hirsch report, the commonly referred to name for the report Peaking of World Oil Production: Impacts, Mitigation, and Risk Management, was created by request for the US Department of Energy and published in February 2005.
Some information was ...
prepared for the U.S. Department of Energy in 2005, a global decline in oil production would have serious social and economic implications without due preparation. Initially, an unmitigated peak in oil production would manifest itself as rapidly escalating prices and a worldwide
energy crisis
An energy crisis or energy shortage is any significant bottleneck in the supply of energy resources to an economy. In literature, it often refers to one of the energy sources used at a certain time and place, in particular, those that supply n ...
. While past oil shortages stemmed from a temporary insufficiency of supply, crossing Hubbert's Peak means that the production of oil continues to decline, so demand must be reduced to meet supply. If alternatives or conservation (orderly
demand destruction
Demand destruction is a permanent downward shift on the demand curve in the direction of lower demand of a commodity, such as energy products, induced by a prolonged period of high prices or constrained supply. In the context of the oil indus ...
) are not forthcoming, then disorderly demand destruction will occur, with the possible effect that the many products and services produced with oil become scarcer, leading to lower
living standard
Standard of living is the level of income, comforts and services available, generally applied to a society or location, rather than to an individual. Standard of living is relevant because it is considered to contribute to an individual's quality ...
s.
*Air travel, using roughly 7% of world oil consumption, would be one of the affected services. The energy density of hydrocarbons and the power density of a jet engine are so necessary for aviation that hydrocarbon fuels are nearly impossible to replace with electricity, to an extent beyond any other common mode of transport.
*A US Army Corps of Engineers report on the military's energy options states
*Shipping costs
Shipping costs are particularly relevant to a country like Japan that has greater
food miles
Food miles is the distance food is transported from the time of its making until it reaches the consumer. Food miles are one factor used when testing the environmental impact of food, such as the carbon footprint of the food.
The concept of ...
.
*Increasing cost of oil for importing countries ultimately reduces those countries' purchase of non-oil goods abroad. The Federal Reserve Bank of San Francisco discusses oil and the US
balance of trade
The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain time period. Sometimes a distinction is made between a balance ...
:
US indications of economic volatility have manifested themselves in the largest increase in
inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reductio ...
rates in 15 years (Sept. 2005), due mostly to higher energy costs.
*Significant oil producing countries will have a national purchasing advantage over similar countries with no oil to sell. This can result in larger militaries for oil producers or inflation of the price of whatever commodities they purchase. Saudi Arabia purchased US$40 billion worth of arms from the US between 1990 and 2000.
*The United States averaged of gas per person in 2004. Therefore, increased gasoline cost will likely make gas reducing alternatives increasingly necessary and common for lower income US residents.
Those who feel that much more drastic imminent social and cultural changes will occur from oil shortages are known as
doomers.
See also
*
Backstop resources
*
Energy security
Energy security is the association between national security and the availability of natural resources for energy consumption. Access to (relatively) cheap energy has become essential to the functioning of modern economies. However, the uneven ...
*
Global strategic petroleum reserves
Global strategic petroleum reserves (GSPR) refer to crude oil inventories (or stockpiles) held by the government of a particular country, as well as private industry, to safeguard the economy and help maintain national security during an energy c ...
*
Low-carbon economy
A low-carbon economy (LCE) or decarbonised economy is an economy based on energy sources that produce low levels of greenhouse gas (GHG) emissions. GHG emissions due to human activity are the dominant cause of observed climate change since the mi ...
*
Mitigation of global warming
Climate change mitigation is action to limit climate change by reducing emissions of greenhouse gases or removing those gases from the atmosphere. The recent rise in global average temperature is mostly caused by emissions from fossil fuels bur ...
*''
Making Sweden an Oil-Free Society
In 2005 the government of Sweden appointed a commission to draw up a comprehensive programme to reduce Sweden's dependence on petroleum, natural gas and other ‘ fossil raw materials’ by 2020. In June 2006 (less than three months before the ...
'' - a mitigation proposal
*
Pickens plan
The Pickens Plan is an energy policy proposal announced July 8, 2008, by American businessman T. Boone Pickens. Pickens wanted to reduce American dependence on imported oil by investing approximately $US1 trillion in new wind turbine farms for ...
*
Soft energy path
In 1976, energy policy analyst Amory Lovins coined the term soft energy path to describe an alternative future where energy efficiency and appropriate renewable energy sources steadily replace a centralized energy system based on fossil and nuclea ...
*
Special Period
The Special Period ( es, Período especial, link=no), officially the Special Period in the Time of Peace (), was an extended period of economic crisis in Cuba that began in 1991 primarily due to the dissolution of the Soviet Union and, by exten ...
- how
Cuba
Cuba ( , ), officially the Republic of Cuba ( es, República de Cuba, links=no ), is an island country comprising the island of Cuba, as well as Isla de la Juventud and several minor archipelagos. Cuba is located where the northern Caribbea ...
dealt with the end of cheap
Soviet
The Soviet Union,. officially the Union of Soviet Socialist Republics. (USSR),. was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 to 1991. A flagship communist state, ...
oil
*
World energy resources and consumption
World energy supply and consumption is global production and preparation of fuel, generation of electricity, energy transport, and energy consumption. It is a basic part of economic activity. It includes heat, but not energy from food.
This art ...
References
External links
*
Amory Lovins
Amory Bloch Lovins (born November 13, 1947) is an American writer, physicist, and former chairman/chief scientist of the Rocky Mountain Institute. He has written on energy policy and related areas for four decades, and served on the US Nationa ...
Winning the oil endgameon
TED.com
TED Conferences, LLC (Technology, Entertainment, Design) is an American-Canadian non-profit media organization that posts international talks online for free distribution under the slogan "ideas worth spreading". TED was founded by Richard Sau ...
- a discussion of how the United States can stop importing oil by 2045, based on research commissioned by
The Pentagon
The Pentagon is the headquarters building of the United States Department of Defense. It was constructed on an accelerated schedule during World War II. As a symbol of the U.S. military, the phrase ''The Pentagon'' is often used as a metony ...
Oil Depletion Analysis Centrein the
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
{{DEFAULTSORT:Mitigation Of Peak Oil
Peak oil
Petroleum politics
Peak oil
Peak oil is the hypothetical point in time when the maximum rate of global oil production is reached, after which it is argued that production will begin an irreversible decline. It is related to the distinct concept of oil depletion; while ...