Is Peak Oil real ? Yes, and it is here

Is Peak Oil realWith shale oil and other extreme oil sources, many think peak oil is dead, or at least is not threatening our economies. But this couldn’t be more wrong. The historic average  oil prices are of $25. Current prices are above $110 a barrel.

Five years ago, they were less than half of that. As the Conversation notes, current high prices have a huge toll on our economies as we spend $9.5 billion globally on oil every single day, amounting to a staggering $3.5 TRILLION each year.

This addiction is hurting our economies each day more are the global demand keeps on increasing, fueled by developing and emerging nations.

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Throwing money out of the window

In this economy, I am sure you are careful about how you spend your money and really think about how you will make ends meet this month or the next as the economy might head toward another recession as oil prices go up.

However, each time you are putting 50 euros in your gas tank, you are literally burning two-twenty euro notes as current cars’ internal combustion engines are 85 percent inefficient.

Similarly, if you live in an inefficient building, you may throw out of the roof or the windows up to 80 percent of your $1,000 or 1,000€ heating bill. Yes, that’s 800€ or $ right out of the windows.

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Cars waste 85 percent of the energy used

This is not news as we have seen it in Sustainable energy – without the hot air but some facts need reminders. The internal combustion engine – like incandescent light bulbs – is extremely inefficient. To GOOD :

If you had to invent an efficient way to move (…), you could hardly do worse than the modern automobile. After more than a century of refinement, (a car) wastes 85 percent of the energy in the fuel we put into it.

Hence the importance of developing alternatives. And from electric vehicles – cars, trucks and scooters – to biking, walking or simple public transportation, it is not as we lacked options.

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