Peak Oil News: Experts say only 50 years of known oil, gas remain

Monday, November 15, 2004

Experts say only 50 years of known oil, gas remain

Is nuclear the only alternative?

“The Stone Age did not end for lack of stone, and the Oil Age will end long before the world runs out of oil.”
Ironically, that quote did not originate with some dolphin hugging Green Peace member. Sheikh Zaki Yamani, a Saudi Arabian who served as his country’s oil minister three decades ago, uttered it.

Florida Power and Light (FPL) generates its electricity using a variety of energy sources: oil, 11 percent; coal, 28.5 percent; nuclear, 14 percent, and natural gas, 32 percent. The balance comes from biomass (organic substance burning) or from methane, according to the Florida Public Service Commission (PSC).

However, “the outlook for fuel diversity in Florida is somewhat uncertain at this time,” says PSC Chairman Braulio L. Baez. Baez said in a recent statement that FPL “is currently seeking to address these uncertainties by comparing natural gas-fired to coal-fired alternatives.”

That’s the least of FPL’s worries, according to President George W. Bush. The President has joined a growing chorus around the world who’ve agreed to confront that the world’s looming energy crisis is not about Chicken Little and the sky falling. The end of the Oil Age is in sight, Bush has said, “and what people need to hear loud and clear is that we’re running out of energy in America.

Global supplies of crude oil will peak as early as 2010 and then start to decline, ushering in an era of soaring energy prices and economic upheaval – or so said an international group of petroleum specialists at a recent two-day conference on oil depletion at Uppsala University in Uppsala, Sweden.


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