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Rediff News  All News  » Business » Global oil shortage looms large

Global oil shortage looms large

January 15, 2008 15:41 IST

A multitude of world issues are converging and manifest themselves around future fossil fuel, energy resources, carbon dioxide, oxygen depletion, including water and mineral depletion. All combined alternative energy sources have limited energy potential to fulfill the needs of an existing and expanding world population.

The only energy alternative is Hydrogen Regeneration. The oceans contain 11 per cent hydrogen. Hydrogen cannot be consumed or used up, and therefore hydrogen can be reprocessed.

Hydrogen Regeneration is a chemical process whereby hydrogen and various chemical elements can be combined to produce a highly chemical reaction and combustion, very much the same as gasoline is combined with oxygen, and then ignited. The hydrogen and other chemical elements are formulated to produce a high explosive force, but much larger than the combustion of gasoline.

After the chemical reaction or combustion, the access-generated energy is used to separate the hydrogen and other chemical elements into their original form through a regeneration process.

It would not be necessary to obtain a 100 per cent separation of the chemical elements, and the same chemical elements can be regenerated several times by this regeneration process, while a small amount of impure or contaminated chemical properties can be discharged into waste containers for later reprocessing.

When this hydrogen regeneration process is used for most energy applications, then the oceans contain sufficient hydrogen to last for an indefinite time period that has yet to be researched and calculated and it can amount to several centuries of energy supply without any environmental consequences, if the world population can be stabilised. The hydrogen energy source needs to be fully researched, developed and analysed.

The US government and major industrial countries may decide to enter into a permanent economic depression, rather than making Hydrogen Regeneration Technology available at reasonable costs without any restrictions or conditions to all world countries for a new era in human development, peace and prosperity.

The major industrial countries could also declare that world peace is dangerous to the world military establishment, the weapons dealers, the military industrial complex and start new global wars through present type third party destabilisation methods and schemes for acquiring cheap natural resources. Therefore, the arms merchants want to supply all countries with more lethal weapons worldwide in an unending circus and with fear tactics.

International Energy Agency on July 10, 2007 warned in its latest medium- term oil market report that a market crunch is looming over around 2012, but some OPEC producers are breaking even more negative news. The IEA analysts stated " ... the combination of declining spare oil capacity after 2010 and delayed new output will tighten fuel oil supplies, raising "serious concerns" for gas market security.

Increased global competition and constrained export volumes will lead without doubt to higher price levels." Analysts said the current depletion rate of Saudi Aramco fields, has increased from 8 per cent in 2005 to around 12-14 per cent in 2006. This would mean that new fields coming in production will only be there to cover lost production volumes elsewhere.

British Petroleum Statistical Review of World Energy 2007 said that (oil) consumption was rising more rapidly than production; it would be 40 years before it outstripped it. BP Group Chief Executive Tony Hayward said the report was a true recount of the world's oil usage and availability.

"I believe that decision-makers, businesses and members of the public will all benefit from the unbiased, carefully collected data to be found in this review," Hayward said.

The National Petroleum Council, which is funded and staffed by the oil industry, published a misleading, inadequate and lacking factual data in their Executive Summary on July 9, 2007. This shows that the oil industry cannot be relied upon and we appear to be standing on top of a steep hill, but we do not know how to manage the descend. An easy answer is then "it must be an act of God, yo' all!!!" Nice going National Petroleum Council.

The ASPO states: Because oil provides 40 per cent of the globe's energy and because the energy system is so large and slow to change, the costs of acting immediately to begin mitigating the inevitable supply crunch are dwarfed by the economic penalties of further delay. By failing to urge timely action, the NPC misleads the public and places the nation's future at risk. The National Petroleum Council seems oblivious to geopolitical and economic reality. Nowhere in the executive summary are the countries of Iraq or Iran mentioned or leaders such as Putin or Chavez. The word "OPEC" appears only once, in a footnote.

"In the final analysis, the NPC Study is woefully inadequate, leaving the Secretary of Energy and the American public with inadequate warning of the huge economic and social risks that many experts believe are just around the corner," says Udall.

Scientists and oil industry experts of the Oil Depletion Analysis Centre in London predicted on July 16, 2007: "A worldwide oil shortage is due in four years - not in 40 years." The prediction was made in reply to the above British Petroleum report.

Campbell disclosed that industry and government is reluctant to face up to the impending end of oil, including denials of climate change. He explains: "When I was the boss of an oil company I would never tell the truth. It's not part of the game."

The central African countries from Somalia and Ethiopia across to Nigeria and Angola at the Atlantic Ocean are considered to hold substantial quantities of oil. When fully knowing and viewing the true past history and present oil operations by Western Oil Companies in Somalia, Ethiopia, Nigeria, Angola, and in general all of Africa, Iraq, Afghanistan, Lebanon, Syria, Iran, Turkey, OPEC, Mexico and Venezuela, then the rosy anticipation of great riches quickly vanish.

Regardless of the news media spin, there is nothing that suggests that the present Mid-East destabilisation could improve our oil supply in the future, but instead with peak oil and global warming et cetera, energy conditions can only deteriorate further.

When the USA sold weapons and chemical weapons to both Iran and Iraq, it caused substantial damage and permanent distrust of the USA in the Mid-East. Our present administration has sold off all of Iraq's major industries, banks, including their oil pipelines to our companies and foreign companies. Obviously the entire Mid-East will do whatever they can to stop the USA from occupying the Mid-East. This is the past and present history.

The world's dependency on oil has become far greater than most countries comprehend, and when oil production drops by 10-20 per cent, then it is too late, and the world economy will spiral into a depression.

If we are not able to find world oil deposits at a rate of 24 billion barrels of oil every year for the next 10 years, then we can expect to slide into a worldwide depression within 10 years. The oil companies and oil exporting countries wield world-wide power and can totally influence worldwide governments, banking, insurance, the stock market, the military industrial complex, defense department, the automobile industry, steel industry, mineral industry, construction industry, transportation, airlines, public utilities, news media, religions, labour unions, as well as state and local governments.

The Western World, as well as the rest of the world's countries, have become addicted to oil for all food supply, transportation, employment and livelihood. Every facet of life has become dependent upon the supply of fossil fuel. Therefore, the oil companies and their compatriots have developed a system of unparalleled power in government with numerous profiteering schemes.

However, when the oil companies and oil exporters refuse to accept peak oil and refuse to accept the inevitable end of world oil supply (presently at 30.5 billion barrels annual consumption), and at the same time exercise control over the world's economy and control the research, development and technology of any substitutes to oil from being developed and marketed, then the world economy and human civilization will experience major economic consequences of unprecedented proportions - obviously.

According to the fundamentalists and their strange religious beliefs, or indoctrination, all that oil and black gold (Texas Tea), was created only 6000 years ago. But when these fundamentalists begin to comprehend that the Earth is actually many tens of millions of years old, especially when gasoline reaches $7-10 per gallon, then it becomes obvious that their indoctrination has failed them. Their rationale cannot explain how all that oil was deposited 6000 feet or 10000 feet under the ground in many layers and depths.

Somehow the oil companies and their fundamentalist friends do not understand either, that major cataclysmic events occurred on this planet Earth during many intervals of over many millions of years. Huge regions with oil rich top soil, vegetation, peat moss, forests and ocean sediment on this planet were covered and then buried with thick layers of silt, sand, stones, rocks and oceans.

For example, it is possible to find an oil deposits at depths of 3000 feet and another oil deposit immediately below at 4000 or 12000 foot depths. During these cataclysmic events, (huge earthquakes, volcanic eruptions, meteors, tsunamis and earth plate compressions caused the formation and creation of mountain ranges), the location of present magnetic north-south poles have moved and also reversed direction.

Therefore oil can be found in places, in which we do not expect to find oil. These catastrophic events and with prehistoric dinosaurs could not possibly have occurred all within a time span of the last 6,000 years. This is proven and is very simple to comprehend, even for fundamentalists and regardless of their indoctrination.

The supply of oil from all world oil reserves of 1.08 trillion barrels or 1.29 trillion barrels of oil for a period of 34-40 years is irrelevant at this point. When total world oil reserves decline at an average of 30.5 billion barrels of oil + a 2.45 per cent decline in oil production annually, as has been officially estimated, then severe economic consequences will occur within 5 to 10 years, while the world population increases by 75-100 million annually, or by 375-750 million people within 5 to 10 years. Present USA oil consumption is 7.5 billion barrels of oil annually.

BP, the oil companies and the United States government simply want to ignore these facts and plan to control all remaining world oil reserves. This is becoming a worldwide disaster, particularly for the oil rich Arab Nations, who ultimately will unite with all the Moslem/Islamic religious faiths, and drive us from their lands, because we are not able to occupy all Arab Nations. Because of our greed, we have then lost our oil suppliers, resulting in the shut down of many remaining oil fields. The oil exporting countries will conserve their oil exports until oil reaches over $100-120 per barrel and they do know of how oil dependent we are and how our stock market works.