What is peak Oil?
“Peak Oil refers to the maximum extraction rate of oil, after which the rate of extraction will decline. It has been found that the extraction of oil always follows a more or less bell shaped curve: first the oil is discovered and once it starts to be pumped out, the rate increases steadily until it reaches a peak, after which it becomes impossible to pump at the same rate: production will inexorable decline.
An illustration of peak oil:
World discovery of oil peaked in 1964 and has been declining ever since, despite considerable improvements in technology, and there is no prospect of any significant large discoveries. We are currently consuming more than six barrels of oil for every one we discover. There is growing consensus that we are now approaching, or are even at, the world oil peak."
http://www.transitiontowns.org/Totnes/main/FAQ
The socio-economic and political implications of reaching peak oil are uncertain, yet potentially very challenging. Supplies of cheap oil have underwritten the development of many key aspects of contemporary life, playing a vital role, for instance, in the global, national and local distribution of essential (and non-essential) goods, modern/conventional forms of agriculture, transportation and the production of an enormous range of goods. As demand for oil begins to outpace supply there is a pressing need for both government and people within local communities to evaluate, not only the potential impacts, but also what can be done to reduce both our dependency upon oil and the energy intensity of our lives.
Peak gas will also follow on the footsteps of peak oil. Indeed, security of supply is already a major issue for the UK. Peak gas will carry major implications for the generation of electricity and heat within the UK. Consequently there is a growing need to increase efficiency, reduce dependency and encourage already available alternatives to natural gas.
Powerdown plus Renewables
Peak Oil (& Gas) and Climate Change are both mitigated by the same solution: Powerdown plus Renewables. Powerdown means more than just improving the efficiency of energy conversion, distribution and use: it also entails looking at ways of reducing societies need for energy per se. At the same time as reducing our need for energy (and fossil fuels), we also need to think about using sources of renewable energy as alternatives to fossil fuels. Powerdown plus Renewables offers a strategy for both increasing our community’s level of resilience and preparedness to Peak oil & Gas, as well as enabling us to contribute significantly to mitigating climate change by reducing carbon emissions.