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Student ID: ------
1st year, ---
Professor ---------
Workshop 1 class EE
July 2, 2014
For the past several decades we have been relying on oil as our major source of energy. It is oil that driven the industrial revolution and turn the global economy into what it is right now. However, the increasing rate of our reliance and hunger for oil has been causing us devastating problems so awful that we can’t afford to ignore it anymore. It is a fact that the global oil reserve won’t run dry in either today or tomorrow but we are running out of supply. I believe that oil should not be the only major source of energy because of the following reasons, first, the declining supply of oil, second, the damage that oil causes to our environment and third, there are other alternatives to provide energy that cause less harm to the environment as compared to oil.
According to many oil and energy experts, it is known that the non-renewable resource’s production is at a very critical point. The demand either remains the same or slowly increases, but the supply hit rock bottom. The first and the easiest proof that we can see in our daily life is the speed of how oil prices increases.
Figure 1. The Global Hubbert Peak Forecast of Future Global Oil Output (Campbell 1996)
As shown in figure 1 (Campbell 1996), we can see that the peak in the production of oil have been very close to the halfway point of its production rate. This graph above is known as ‘Hubbert Curves’ named after its inventor which is “Dr M King Hubbert” a world renowned geologist. The Hubbert peak theory says that, in regard to any given geographical area, from an individual oil-producing region, the rate of petroleum production tends to follow a bell-shaped curve.
In addition to the threat to the world’s economy, increasing oil consumption challenges the environment and the relationship between countries. In order to tackle this