Independent from technological advances, oil has seemingly passed from its glory days. Although since the 1970's we have discovered more efficient ways of obtaining oil as well as new oil deposits and producers can now manufacture more products with less oil.
A cold winter can help trigger a gas shortage and may cause serious problems. This could bring on petrocollapse, a breakdown of the whole socioeconomic structure that has an unhealthy relationship with the only reality, our ecosphere where in economics must function sustainability. Globally reserves are not being replaced to keep pace with consumption. The world uses about four barrels of oil for every one that is discovered. Less and less net energy yield from oil can be a factor that accelerates the possibility of a permanent shortage and serves to raise costs hidden in countless goods and services.
Our country is faced with a serious energy shortage. Each state must cut their fossil fuel use by a specific amount by taking into account the population, industry size and various other factors. Most of the petroleum consumption is in the form of gasoline for vehicles. More energy efficient cars and use of alternative fuels could help in reducing energy consumption. Various other resources like solar power and generating electricity from windmills could help reduce the dependence of petroleum.
Petrocollapse seems inevitable and right ahead. The most reasonable solution in the long run will be that people will have to help each other and live in an egalitarian society. Cooperation and solidarity will be the order of the new day an there seems to be no other than this if we are to survive as a species.
The outbreak of war drives up the price of oil. Higher oil prices can raise the projected inflation value. The international economy remains dependant on oil as the main source of energy since oil is among the fossil fuels with the least reserves. It will help to switch to natural gas because it is found almost everywhere oil reserves are found and it is the cleanest burning of all fossil fuels. In the long run the development of renewable resources such as solar, wind, geothermal, and water will postpone the arrival of a time when there will be a real shortage of petroleum.
The inflation motivated a major effort at conservation of energy, a beginning of development of alternative sources of energy and searches for new reserves of oil. Producing appliances that work more efficiently and with alternative fuels will help to conserve the oil that we still have. Oil is finite and it will run out of it some day so we must prepare for the day when oil runs out.
