Fin Keegan

Oil, particularly in the West, has become almost as necessary to our way of life as oxygen and water. It is quite the thought experiment to figure out how much we are dependant on the stuff–and what will happen when it starts to run out.

Peak Oil proponents hold that we have used around 50% of extractable oil and thus face a dwindling, increasingly expensive supply. (One proviso: OPEC do not reveal their reserve estimates but, as every driver knows, prices have been rising over recent years, indicating demand outstripping supply).

Cut out oil overnight and our social and commercial fabric would quickly collapse: supermarkets would be empty in a matter of days for example. But this will be a slower crisis and, if we are to overcome it, we need to act now.

One grassroots initiative that has taken off in recent years, particuarly in English-speaking countries, is called Transition Towns. You can learn more in an article I wrote for the Smarter Cities website recently:

Keegan – All Together Now: Transition Towns Rise in the US

Thanks to Paul McRandle, John-Paul Flintoff, Annie McCleary, Ben Brangwyn, and Trathen Heckman for their help. Flickr image by Roger Smith

§ 3 Responses to “Low on Oil”

• Small Business says:

  February 12, 2011 at

  In passing, FYI, I’m inclined to take the Wikileaks apparent revelations about Saudi Arabia having 40% less oil than was previously declared seriously as I’ve been hearing rumours about this for years. I quite believe it.
• Fin says:

  February 13, 2011 at

  That’s interesting, thanks for the tip…
• Fin says:

  February 13, 2011 at

  Here’s the Guardian link on that Wikileaks story:

  guardian.co.uk/business/2011/feb/08/saudi-oil-reserves-overstated-wikileaks

  And an alarming quote:

  Jeremy Leggett, convenor of the UK Industry Taskforce on Peak Oil and Energy Security, said: “We are asleep at the wheel here: choosing to ignore a threat to the global economy that is quite as bad as the credit crunch, quite possibly worse.”