Crude Awakening
Peak Oil and The End of Cheap Energy

Part 1 - What it is, How and When it Will Happen by Tim Hudson

Length: 42 minutes

"Peak Oil is the point where the rate of oil extraction begins to permanently decline...  We suddenly get a switch from an oil buyers market, to a sellers market, and there is a sudden increase in prices..."  Tim Hudson describes the bloom of books, articles, films, and websites on Peak Oil.  "Some are predicting doom and gloom... Peak Oil will be like the 1970s oil crisis, but this time, it is here to stay."

"We think the Peak Oil point has three sides."  On one side is the energy, on the second side is the environment, and on the third side is the economics.  "Everybody positions themselves kind of in this three dimensional weighting, their value system, about what's important amongst all these things... Think of all three."

Hudson describes the relationship and links between money and the energy supply.  "We probably need to better understand the relationship between our financial system, our civilization itself that the financial system was constructed under, and cheap energy and this assumption that we must grow financially every year..."  He also goes into the relationship between energy, food, and global population.

Hudson emphasizes the need to scale up rapidly the use of renewables.  He points out that predictions for 50 more years of oil is based on a constant steady supply from here out, then a sudden drop to zero.  He explains how M. King Hubbert predicted the peaking of oil in the USA.  He points out that the USA is like "Swiss cheese" with the number of wells that have been drilled, and despite all that effort, there is much less oil being produced than in 1970.

"We're richer than the greatest king ever was."  Hudson talks about how the amount of energy the average American uses is like having 300 energy slaves all working on their behalf.

Looking at discoveries, peak discovery was back in the 1960's.  Predictions for Peak Oil range from now to 2012.  After peak, there will still be lots of oil, but it will be more expensive, and there will be less and less available.  This could culminate in a series of recessions and a very bumpy ride for everyone.

Available As:     Google Video     RealMedia     Windows Media

Tim Hudson, John Richter and Dominic Crea are founding members of the "Institute of Sustainable Energy Education" (I.S.E.E.) and known as the "Energy Myth Busters".  They have delivered talks on Peak Oil at venues including the G.L.R.E.A. Michigan Energy Fair, the Upland Hills Ecological Awareness Center, St. Clair County Community College, Cedar Creek Institute, and the Midwest Renewable Energy Association's Energy Fair.

Copyright © 2006 Local Future Network