Comments oildependency has made

Oil Production is Flat, don't hide.

Hiding from this reality is the reason we find ourselves in it in the first place. Yeah sometimes the truth hurts, but the world is not a 5 year old child. We can and must take responsibility for our dependence on fossil fuels. Global oil production has literally been flat since 2005. The yearly production gains and discoveries are now being over shadowed by the yearly declines in 18 of the leading oil producers. This imbalance is further stretched by China and India's rampant growth. China has been growing their demand for oil by 7-10%/annually for the past 5 years. By 2030 the world will require an additional 40 million barrels per day of production (125mbpd). However, when adding in the decline rates of peaked fields, that number may be even larger. Conservatively we need 2 more Saudi Arabia's in the next 20 years to keep up with growth. That's 1,446 barrels per second by 2030. That's up from 983 bps currently. It doesn't take much common sense to realize that this energy intensive way of life cannot continue indefinitely. Luckily, America and the world have an endless stream of ideas to combat our dependence on oil. Unfortunately, the low cost of energy now is hampering alternative energy investments; a paradox that hopefully will be addressed by the new administration in the coming years. Ultimately knowledge and appreciation of energy will help society move in the right direction. However, KEEPING QUIET will only prevent the masses from using energy responsibly.

Matt Coyle oildependency.org ouroiladdiction.com