Matt Savinar on Hubbert’s Peak Oil

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Hubbert’s Peak Oil isn’t a myth: it’s a reality that we’re seeing played out in rising prices at the pump on a daily basis. The price of gas keeps rising because our supply of crude is declining. Big oil says the problem is a lack of refining ability due to strict regulations, but that’s not the real problem. The simple truth is that we’re running out of oil. That’s why disasters like the Gulf of Mexico spill happen: because the easy oil is long gone, and companies like BP have to push harder, dig deeper, and drill in more extreme locations.

Most of us try not to think about the oil crunch because it’s depressing. Matt Savinar’s different. His book, entitled “Peak Oil: Life After the Oil Crash” explores the current state of the oil industry and the economics that drive it, and explores when the oil will run out and what happens when it does. For instance, while the US Census Bureau predicts that world population in 2030 will be double that of 1980, Savinar’s predictions show that oil production will be half that of 1980 levels.

What Matt’s talking about is a collapse of the status quo, and he’s not only urging alternatives sources of fuel, but also changes in our lifestyle. Use less oil, use it more efficiently, and try to find alternatives to it as fast as possible – and according to Savinar’s research, it may already be too late. Based on recent oil prices, this really isn’t a surprise: the price keeps climbing, and while critics point out that other countries pay more for gasoline than we do, they neglect to mention that our government is still subsidizing those levels. In other words, oil costs more across the board, and the reason is that there’s less oil to go around.

Savinar also discusses the social ramificiations of peak oil. Hubbert’s Peak Oil, after all, is socio-economic in nature, and Savinar postulates that this may lead to a sharp upswing in prices that effectively cause the supply to effectively run out long before it actually does. Population growth and declining resources could easily create an exponential increase in the price of oil inflating it to 5 or 10 times the current price. Ultimately, given our reliance on oil for power, plastics, fertilizer, and other essentials, Matt Savinar is saying that if we don’t find alternatives fast, then Peak Oil may very well be our society’s extinction event.