World oil production is at or near its peak and current world demand exceeds the supply. Saudi Arabia is considered the bellwether nation for oil production and has not increased production since April 2003. After peak production, supply no longer meets demand, prices and competition increase. World proved reserve life-time for oil is about 41 years, most of this at a declining availability. Our current throw-away nuclear cycle will consume the world reserve of low-cost uranium in about 20 years. Unless we dramatically change our consumption practices, the Earth’s finite resources of petroleum and natural gas will become depleted in this century. Coal supplies may last into the next century depending on technology and consumption trends as it starts to replace oil and natural gas. We must act now to develop the technology and infrastructure necessary to transition to other energy sources. Policy changes, leap ahead technology breakthroughs, cultural changes, and significant investment is requisite for this new energy future.
Time is essential to enact these changes. The process should begin now.
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