This paper outlines the background that led to the production of ‘The Oil Age’ journal.
The paper starts with a brief introduction to the concepts of ‘Oil Age’, and ‘Peak Oil’. It then examines the status of global oil and gas depletion, and concludes (although the details evolve over time as more valid information becomes available) that:
- Production of ‘Regular Conventional’ oil (i.e., oil in fields, less Arctic, deep offshore, and very heavy oil) reached its global peak in 2005.
- The global production peak for all categories of oil may be not too far from now.
- And for all categories of gas the global production peak may be around 2020.
The paper then looks briefly at what are likely to be some of the consequences of these peaks in oil and gas production. The paper ends with a short postscript examining the recent fall in oil price caused by the rise of US production of ‘light-tight’ oil.
Campbell, C. J. (2015) The Oil Age in an Historical Perspective. The Oil Age 1 (1) 1-8.
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