Yesterday I attended a presentation by Matt Simmons held at the world renowned Colorado School of Mines in Golden, Colorado. His topic was "Peak Oil" and the room was filled with 50+ extremely interested petroleum engineers, faculty, and oil industry representatives.His presentation was extremely sobering and focused on the lack of actual data being used to determine how much oil is in the ground and the rates that oil fields are declining. The bottom line of his presentation was that "the age of cheap oil is over."
One fact that Matt passed on is that it is expected that oill exports from Mexico will be eliminated in the next 18 months. This is important to the U.S. because we receive almost 8% of our imported oil from Mexico.
To adapt to this and other Peak Oil challenges America will need to make a number of fundamental changes in the very near future.
No comments:
Post a Comment