It’s not so much about the size of the resource as it is about the rate of production of that resource and why that rate should eventually decrease” (Micu 98). There is no timetable for when or how peak oil will occur; however, it is predicted that this will begin by 2030 (Bosman). Given the knowledge of past production and current trends in current production, oil and gas technological developments have generated countless anticipations for the years to come. Since the beginning of the modern petroleum era, technology has played a crucial role in the efficient production of hydrocarbons. Recently, major operations have come under threat. New projects have become more expensive in the long run and more difficult. Since the dawn of time, the key to increasing reserves has been research and development with countless breakthroughs as well as advancements in exploration and production. This has even led to changing technological developments in order to adapt to the changing realities of the oil industry. The situation is dire, especially in the United States of America. The country “currently consumes nearly 25 percent of the world's oil, its problems are reflected in the world market” (Maugeri 5) with no progress yet known. A major problem is that oil forms too slowly to be replaced by the time it is extracted, causing "the point at which production can no longer increase and production begins to stabilize or gradually decline" (Graefe 1). Since 1999, the oil industry's production has declined slightly, causing an outcry to improve the oil recovery process and contribute to change (Graefe 1). People should fully understand what is going on there. Not only does it affect their cars, their heater or their generator...... middle of paper...decades of exploitation, new technologies and techniques" (Jansen 44) and that there is nothing that we can do. Without new technological advancements, we would not drill for oil, establish new platforms, or find new ways to extract it simply because there is no material available with such promise. Even with new advances, we hope for the best. Without such a valuable source, our world will diminish and “the evidence [is] now overwhelming” (Morse 1). Ultimately, we must realize that our fossil fuels are running out and it is time to change our way of life. This affects not only scientists or industries, but also young and old. We can conserve what we have, so that our future generations can live as richly as we do, so that ultimately they don't have to live in a world without limited fossil fuels..

Essay / It’s not so much about the size of the resource as it is about the rate of production of that resource and why that rate should eventually decrease” (Micu 98). There is no timetable for when or how peak oil will occur; however, it is predicted that this will begin by 2030 (Bosman). Given the knowledge of past production and current trends in current production, oil and gas technological developments have generated countless anticipations for the years to come. Since the beginning of the modern petroleum era, technology has played a crucial role in the efficient production of hydrocarbons. Recently, major operations have come under threat. New projects have become more expensive in the long run and more difficult. Since the dawn of time, the key to increasing reserves has been research and development with countless breakthroughs as well as advancements in exploration and production. This has even led to changing technological developments in order to adapt to the changing realities of the oil industry. The situation is dire, especially in the United States of America. The country “currently consumes nearly 25 percent of the world's oil, its problems are reflected in the world market” (Maugeri 5) with no progress yet known. A major problem is that oil forms too slowly to be replaced by the time it is extracted, causing "the point at which production can no longer increase and production begins to stabilize or gradually decline" (Graefe 1). Since 1999, the oil industry's production has declined slightly, causing an outcry to improve the oil recovery process and contribute to change (Graefe 1). People should fully understand what is going on there. Not only does it affect their cars, their heater or their generator...... middle of paper...decades of exploitation, new technologies and techniques" (Jansen 44) and that there is nothing that we can do. Without new technological advancements, we would not drill for oil, establish new platforms, or find new ways to extract it simply because there is no material available with such promise. Even with new advances, we hope for the best. Without such a valuable source, our world will diminish and “the evidence [is] now overwhelming” (Morse 1). Ultimately, we must realize that our fossil fuels are running out and it is time to change our way of life. This affects not only scientists or industries, but also young and old. We can conserve what we have, so that our future generations can live as richly as we do, so that ultimately they don't have to live in a world without limited fossil fuels..

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