Oil pumping capacity
Don’t miss Part 4 of Kevin Drum’s ongoing series on peak oil. It’s about pumping capacity, or the lack thereof.
This is what peak oil has brought us to. The actual peak may happen this year or it may not happen for a couple of decades, but just the fact that we’re close means that we’ve already hit the point in the curve where spare capacity is a luxury of the past. The result will be increasing global instability caused by a turbulent economy held permanent hostage to terrorists, unstable dictatorships, resource wars, and natural disasters.
He promises Part 5, on sane energy policy, tomorrow.