After 150 Years, Whither Oil? -- Green Inc/New York Times
This week marks the 150th anniversary of the first oil well drilled in Titusville, Pennsylvania by “Colonel” Edwin Drake. The commodity would prove essential to the development of modern societies, enabling communications, travel and trade on a global scale.
But its central role is now facing unprecedented challenges.
Governments are concerned about the need for energy security and reliable supplies. The threat of climate change requires shifting away from fossil fuels that currently dominate the world’s energy mix. And fears of “peak oil” — the notion that half the world’s reserves have been pumped and that global production is now on a slow path of decline — have gained followers as prices have soared.
How much longer will the “Oil Age” last?
Read more ....
My Comment: 150 years of oil. While the oil industry has brought incredible benefits to mankind .... the dark side has been the conflicts and wars that have arisen because of peoples greed and desire to personally benefit and/or control this resource.
A New York Times article published this afternoon sums up perfectly the conflict that oil and its riches can bring .... China Oil Deal Is New Source of Strife Among Iraqis. Read the whole thing .... and be exposed to the good, the bad, and the ugly .... and realize that this has been going on for 150 years.
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