Depletion of Natural Resources - Oil
DEPLETION OF ENERGY RESOURCES
Modern industrial society is based on a triad of hydrocarbons, metals, and electricity. The three are intricately connected; each is accessible only if the other two are present. Electricity, for example, can be generated on a global scale only with hydrocarbons. The same dependence on hydrocarbons is true of metals; in fact the better types of ore are now becoming depleted, while those that remain can be processed only with modern machinery and require more hydrocarbons for smelting. In turn, without metals and electricity there would be no means of extracting and processing hydrocarbons. As each of the three members of the triad threatens to break down, we are looking at a society that is far more primitive than the one to which we have been accustomed. Global Energy Consumption:
In 2008, total worldwide energy consumption was 474 exajoules (474×1018 J=132,000 TWh). This is equivalent to an average power use of 15 terawatts (1.504×1013 W).
The entire world’s economy is based on oil and other fossil fuels. These provide fuel, lubricants, asphalt, paint, plastics, fertilizer, and many other products. In 1850, before commercial production began, there were about 2 trillion barrels of oil in the ground. By about the year 2010, half of that oil had been consumed, so about 1 trillion barrels remain. At the moment about 30 billion barrels of oil are consumed annually, and that is probably close to the maximum that will ever be possible. By the year 2030, some analysts say, oil production will be down to about half of that amount. Resource depletion is an economic term referring to the exhaustion of raw materials within a region. Resources are commonly divided between renewable resources and non-renewable resources. Use of either of these forms of resources beyond their rate of replacement is considered to be resource depletion. A vast amount of debate has gone on about “peak oil,” the date at...
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