End of “Easy Mideast Oil” Makes Clean Energy Transition More Urgent Than Ever
If anyone still doubts that we need to rapidly transition from fossil fuels to clean energy, articles like this one by Bloomberg should clarify things for them.
Middle East countries “have definitely produced most of their cheaper and easier oil,” Iain Brown, the head of regional research at Wood Mackenzie, said in a telephone interview…
Exxon and Total SA (FP) are also vying to access heavy crude deposits in mature oil fields in Kuwait, where lighter oil has already been pumped. Occidental Petroleum Corp. (OXY) is producing heavy oil using enhanced recovery methods in Bahrain.
“The days of easy oil are over,” the U.A.E’s al-Hamli told reporters yesterday. “In order to maximize the potential, we have to have enhanced oil recovery.”
In sum, according to this article, we’re nearing the “end of easy oil.” If that’s the case, then this means we’re moving on to more expensive, harder-to-get oil reserves, such as Canadian tar sands, requiring large amounts of energy and water just to get it out of the ground. That’s yet another strong argument for switching as rapidly as possible off of oil and other fossil fuels, and into inexhaustible energy sources like the sun, wind, and waves.