Ayoob wrote:The day or the hour is not important. What is of the greatest importance is that it WILL hit, and you will still be alive. The most important thing to any individual is how you cope with that time.
In my opinion, probably repeated a hundred times here in my posts, is to figure the halving time of whatever resource you think will impact you the most.
Take the year over year decline rate measured by percentage, and divide that number into 70 or 72. Albert Bartlett uses 70, Morgan Stanley uses 72. I'm not sure this will meaningfully impact the debate.
For example, let's say the year over year decline rate is 2%. Divide 70 by 2, and you come up with 35. In 35 years, the daily supply will be half of what it is from your peak point. If you are still alive in 35 years, the total available supply will be cut in half.
If it is 5%, then the time is 14 years. If it is 7%, then the time is ten years.
The biggest loss is the first halving time. For all the rest of humanity, we will not lose more than we will in the first halving time. In the second halving time, we will only lose half of what we lost in the first halving time. Does that make sense?
Let's say that the total global oil output today is 80 million barrels per day. At the end of the first halving time, we will have 40 million barrels available. A loss of 40 million barrels per day. At the end of the second halving time we will lose 20 million barrels per day. Much less loss than the first, but as a group we used to use 80 million barrels. From 80 we are down to 20.
In my personal opinion, humanity will simply not function the same after the 2nd halving time. We will have lost 75% of all the daily production we had at the peak.
At 2% decline, that would be in about 70 years. At 5%, that will be 28 years. At 7%, that would be 20 years. I assume I will be alive 20 years from now so this calculation means something to me. Some prognosticators have said we could be looking at a 6% decline rate.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
noobtube wrote:And, people wonder why the United States is falling apart.
Repent wrote:I've said this before and I'll say it again; There are different approaches to dealing with peak oil. One of which is to reduce the population through warfare and keep the spoils to yourself.
I can see the 'elites' gaming the rest of us... A new fudalism; a perpetual wealthy elite and everyone else who survives the crash reduced to being surfs, or slaves; with no hope of progress or improvement of their lot.
mmasters wrote:When is peak oil going to hit hard, when do the production declines outstrip demand? When will the ever esculating gas prices begin.
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