Oil: Pump more—or—Use less and find other options

By William Atkins
Wednesday, 02 July 2008 19:22

Opinion and Analysis

Whether you believe it or not, the world is running out of oil. Scientists aren’t sure if the peak of oil production has already occurred or will happen sometime in the very near future, but we only have so much oil left in the ground to use for our ever expanding energy needs.



Matthew Simmons and oil

New Scientist magazine has an interesting “Comment and Analysis” article by Matthew R. Simmons in its June 30-July 4, 2008 issue.

The Simmons’ article, within the magazine, is called “Time to go cold turkey.” A subscription is required to read it, however, I hit on its highlights here.

Mr. Simmons is the chairperson and chief operating officer (CEO) for Simmons & Company International. It is an independent investment bank specializing in the energy industry.

Simmons is considered, according to New Scientist, as “… one of the world’s leading experts on peak oil.”

In the introduction to his article Simmons states “Don’t imagine that pumping more oil will get us out of our current mess. Dealing with the addiction is the only option.”

Simmons begins his article by saying:

“On 1 February, 2006, the day after his state of the union address, President George W. Bush was discussing his 2006 agenda with the press when he made one of the most far-reaching statements of his presidency: “America,” he declared, “must end its dependence on oil. When you’re hooked on oil from the Middle East, it means you‘ve got an economic security issue and a national security issue.”

Simmons continues, “Whether his [President Bush's] remarks signaled a belief that global oil supplies were nearing a peak and would then decline is something for energy historians to argue about. Whatever its basis, it was a remarkable statement.”

The end of Mr. Simmons’ article concludes with the following:

“The bottom line is the US must now wean itself off oil and also help to teach the rest of the world how to successfully and rapidly retreat from its addiction to the stuff. How well the world does in bearing a hasty and forced retreat from oil consumption will very likely determine whether the remainder of the 21st century will be relatively peaceful. The stakes could not be any higher.”

Please read the entire online article (if you can) at: “Comment: Kicking the oil habit.”

Whether we, that is, the entire world, heeds Mr. Simmons remarks or not does not change the situation that the world finds itself in now and for the immediate future. The amount of oil left inside the Earth is finite. As we continue to use more oil each day, that amount gets less each day.

We have the technology to develop and use other sources of energy. That research and development should proceed as fast as we can humanly do it.

Please read page two on commentary of Matthew Simmons by Culture Change.