Maui Gas: Experience the Depletion Cliff.
When the question of oil and gas depletion is raised the flat earth fraternity often canât help themselves laughing whilst pointing out ''but weâve never produced more than we are today, the world is awash in oil and gas''. A sobering lesson is to be learnt by looking at the current depletion rates in the Maui natural gas field.
Production this year was 21.6% less than the 2003. Production in 2003 was 33.5% less than in 2002. In 2002 the Maui natural gas field produced a volume of gas higher than it ever had in its past. This illustrates the depletion issue with such clarity that even a flat-earther should recognise it. The volume of gas produced in the June 2004 year was the lowest level recorded for a year since 1986.
Maui gas production is in free fall. In peak oil terminology we are over the cliff. Within a year, maybe two tops, Maui gas will be gone. We are not the only nation facing natural gas depletion. The great Canadian natural gas fields, which power much of the United States, are on the production plateau. Major blackouts have already plagued the US over the last couple of years caused by peak surges in electricity consumption. As Canadian gas production hits the cliff it is almost certain that the US will experience severe and lasting electricity outages.