Richard Ha writes:
In the following video from Consumer Energy Report, Energy Expert Robert Rapier discusses a recently released paper by former Eni Executive Leonardo Maugeri, in which Maugeri suggests that by the end of the decade, global oil supplies will increase by 17 million barrels per day. Rapier also talks about George Monbiot’s reaction to that report. Monbiot is a prominent environmentalist concerned about global warming.
I like Robert Rapier’s views. He is fearless, credible, easy to understand and has common sense.
Though some articles recently have suggested that the U.S. has more petroleum resources than Saudi Arabia, and suggest, “Don't worry, be happy,” we must play the position on the chess board as it exists – not as we wish it were.
Where are we now and where do we want to go?
In general, oil at $125 a barrel has thrown the world into recession. If it falls below $70 per barrel, some folks will lose money and stop production. We will probably be between those two prices for a short while. Oil is a finite resource, and the forces of depletion are relentless.
Hawai‘i has a lot of catching up to do. We need to move toward geothermal so we can dodge the bullet.