Doomsday Scenario: A World Without Oil

3 Mar 2017   Peak Oil

Suppose the rapture happened. Not the kind followed by the Second Coming of Jesus as promised by Paul, but a rapture of oil. Imagine that one night, just after the last parents finish tucking in their toddler after falling into a post-ice cream coma, that … poof! All of the world’s oil in untapped reserves vanished from the Earth into a Great Fossil Fuel Heaven. What remains is just the oil that exists in government or private inventories – extremely limited in quantity. Initially, this would lead to the speedy recovery of oil prices, which have suffered a decline over the past three years due to a massive supply gut. An output reduction deal by the Organization of Petroleum Exporting Countries (OPEC) and a handful of non-members is no match for a disappearing act of biblical proportions. In the United States, employers who require the physical presence of their […]

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