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Is The Fossil Fuel Crisis An Immediate Emergency?

558 words - 3 pages

Chapter 5 Case Study: Is The Fossil Fuel Crisis An Immediate Emergency?
IBA 350

In my opinion, a developed country does not have a moral duty to produce food over fuel crops when hunger is a global issue. I agree that developed countries should provide food to those who are starving in third world countries, but unfortunately, due to the importance of the survival of our global economy, using crops to create ethanol and reduce oil scarcity seems to be the more logical decision for developed countries. Also, if developed countries did not use any of their crops to create ethanol, then it would cost more money for the fuel used to ship the available crops to countries in need of aid.
I think the fossil fuel crisis is not immediate when it comes to the thought of oil scarcity or oil depletion. I ...view middle of the document...

Discoveries such as these and more innovative methods mentioned in the article, “Why Peak-Oil Predictions Haven't Come True; More Experts Now Believe Technology Will Continue to Unlock New Sources,” lead me to believe that there is still a lot of oil left to be extracted across the world. Rather than believing in setting a time limit on when to transition to new energy sources due to oil depletion, I am more influenced by the theoretical situation presented in this article by George King and Morris Adelman.
King does not think that oil production is a geological issue, but instead that technical and economic limits will be the downfall of extracting oil. This theory is further supported in the article with a quote pulled from a book called, “The Genie out of the Bottle: World Oil Since 1970,” author and petroleum economist Morris Adelman stated, “No mineral, including oil, will ever be exhausted. If and when the cost of finding and extraction goes above the price consumers are willing to pay, the industry will begin to disappear.” In summary, King and Adelman agree that technological advances in oil extraction will continue to be developed, but the technology will drive up oil prices so high that consumers will transition to new energy sources before complete global oil depletion occurs. This is definitely a new theory to consider when thinking about how immediate a fossil fuel crisis may occur, it’s very interesting to me because of the focus on technical and economic limits of oil production rather than the absolute depletion of such an important global energy source.

Gold, R. (2014, Sep 29). Why peak-oil predictions haven't come true; more experts now believe technology will continue to unlock new sources. Wall Street Journal (Online) Retrieved from http://search.proquest.com/docview/1566187485?accountid=14472

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