I remember watching a video of Richard Nixon at an energy summit saying " We cannot afford to spend as much as we are spending now.."
Life was going well and here is a guy who says not to take it easy. But there was a warning in President Nixon's words. Only the people did not know enough facts for the warning to make sense.
Oil. Liquid gold. It is the God around which we have constructed modern civilization. But it is not eternal. One day it will finish. "One day" seems a long way off doesn't it. What if that one day was tomorrow ?
Saudi Arabia has the largest known land oil reserves in the world - nearly 25% of the total. At 1970, Saudi Arabia's oil production was at its highest. Slowly it began to decline. As of today, its reserves are nearly empty. Why don't we hear about it ? Because it will create panic world-wide. More importantly, it might trigger a revolution in Saudi Arabia.
So, the problem remains : Where do we go from here ?
At present there are NO viable options to replace fossil fuel. Solar batteries, electricity, Canadian tar, ethanol, hydrogen.... these are all a layman's attempt at consoling himself; that somehow all his problems will be solved. The only probable source of "energy", not "fuel" is Nuclear energy and that too is limited. Maybe not as limited as fossil fuels but limited nonetheless.
What happens when the oil runs out ? In the words of Joker, " These civilized men... they'll eat eachother."
We have already seen the first of such acts - US invasion of Iraq. There were no WMD's. The war was a direct consequence of Saudi reserves being empty and the next largest oil producing nation Iraq ( about 9%) being on unfriendly terms with the US. Saddam Hussein's bid to undermine the dollar brought about the downfall of an entire country.
All the talk of the US leaving Iraq in the hands of a democratic government... are all talks. They are not going to leave Iraq before the oil runs out.
Men will eat eachother.