Originally written in 2005:
I have been taking a closer look at the "peak oil" or "oil crisis" thing over the past few weeks and I tend to lean towards the idea that there is going to be a real oil crisis in the near future. Take these facts into consideration...
Youtube videos of his speech...
The Saudis say they now have twice as much oil as previously thought which will alleviate the peak oil crisis. Not so fast!... even if it were true, most estimates say that it will only add 10 years to our supply. These reserves have not even been verified. And... some say that the oil that they are talking about is oil of a lower quality and thus more expensive to extract and refine. The high price of oil now makes that more expensive oil in the ground economical to produce and thus it gets moved to the "proven reserves" column. The point is... these new reserves are not going to lower the price at the pump any. If the price of oil were to drop, these new reserves would again become unrecoverable. This is exactly what happened in the late 70's and 80's in the US - the foreign oil was so cheap that a lot of the oil rigs in the US shut down because it was cheaper just to buy the cheap foreign oil.
So... what can you do about the approaching peak oil crisis?...
It's called sustainable living. Basically, you are going to have to provide for all of your own needs like shelter, electricity, water, food, transportation, clothing, health care, etc. When the oil runs out or gets too
expensive to afford, then all these things will go bye-bye. If you can't provide for yourself, then you will be at the mercy of "others". The books in our bookstore will help you get through the tough times to come. And... they
will save you a ton of money in the meantime. I've been helping people save money on electricity for 13+ years now with my book "Electricity - Make it, Don't Buy it".