30 Jul '12, 5pm

The Age of Hard-to-Get Oil: The Middle East’s Dominance in Fossil Fuels May be Ending

The Age of Hard-to-Get Oil: The Middle East’s Dominance in Fossil Fuels May be Ending

Illustration: Column Five Media, Brandon Palacio Click on image for a larger view. The world’s “proven” oil reserves, those that are readily recoverable with present-day technology, are estimated to be about 1.4 trillion barrels of oil. With daily global consumption around 85 million barrels and edging toward 100 million, we’re on schedule to run out of easily extracted oil in a generation. 
 So what will the world energy economy look like 30 to 40 years from now? 
 IEEE Spectrum spoke to Michael T. Klare, the author of The Race for What’s Left: The Global Scramble for the World’s Last Resources (Metropolitan Books, 2012). He sees two major trends shaping the future. First, as the world keeps getting warmer, there will be more pressure to alter behavior. So global demand for oil a generation from now will not be a linear projection from the patterns of past decades.
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Full article: http://spectrum.ieee.org/energy/fossil-fuels/the-age-of-h...

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