In 1956, Geoscientist, Marion King Hubbert predicted that, for any given geographical area, from an individual oil field to the planet as a whole, the rate of petroleum production of the reserve over time would resemble a bell curve. Based on his theory, he presented a paper to the 1956 meeting of the American Petroleum Institute in San Antonio, Texas, which predicted that overall petroleum production would peak in the United States between the late 1960s and the early 1970s. While Dr. Hubbert’s analysis may have missed the mark in terms of date, one only has to look at the price at the gas pump to see that the days of cheap petroleum are gone. In the past, one gallon of oil produced 100 gallons. Now production efficiencies cost 1 gallon per 3 gallons in new sources like tar sands. These costs do not include the public health impacts or environmental degradation further inflating fossil fuels actual costs to society. With American fossil fuel companies spending only 0.42% of sales in research and development (the pharmaceutical industry spends 20.5%), the time has now come to push forward and invest in a clean energy future.
Tune in to this segment of The Clean Energy View Radio Show, as host, June Stoyer talks to the Reverend Mitch Hescox about peak oil. The Rev. Mitchell Hescox serves as President/CEO of The Evangelical Environmental Network publisher, Creation Care Magazine. The Evangelical Environmental Network is a ministry dedicated to the care of God’s creation. He has testified before Congress, appeared on CNN, NPR, PRI and numerous radio programs both Christian and secular. He has also been named one of the ten Environmental Religious Saints by Huffington Post. Stay tuned