What the "Plateau of Global Oil Production" essentially means is that we peaked in global oil production in 2005, and the peak, as it were, is covering a period of 10 years, or so. That's a good thing, in one sense.
For various reasons, we have been able to extend the peak and sustain oil production at the current (2005) levels for the past 7 years. Core Labs CEO David Demshur, whose company is involved with 1100 of the 4000 actively producing oil fields in the world, says we can squeak out another 3 years of this global peak plateau before global production goes into inevitable decline.
That's good news for those who are actively working to mitigate the potentially disastrous economic effects of peak oil caused by the spike in oil prices estimated as high as $400/barrel. The bad news is that there are very few individuals, communities and governments taking necessary steps to create the awareness and action needed to mitigate peak oil price spikes. Earthprojects.Info has taken up this challenge as its #1 priority. We believe the price spikes will come with the decline in global oil production (circa 2013-16).
The main component of any peak oil mitigation plan involves voluntary demand destruction like, for example, ending your daily commute to work by working from home or relocating your home to where you work, using mass public transportation instead of driving your car, and so on. Transportation is the #1 demand driving crude oil prices, followed by industrial use of oil.
Demand for consumer use of oil in the home is relatively low, so while demand can be reduced here as well, it is important to realize that the real focus needs to be on transportation. Even if we eliminate all demand for oil from our homes we won't achieve our goal without addressing the core task of eliminating demand for oil in transportation and industry.
Eliminating all types of non-essential transportation, localizing economies, producing and buying locally grown food (the average piece of food consumed in Canada, for example, travels 10,000 KM by transport), eliminating non-essential industrial processes, products and even businesses that depend on oil is either going to happen voluntarily and systematically or chaotically by force through demand destruction.
Demand destruction is expected to cause a 50% reduction of peak price spikes and bring crude oil prices down to a new Post-Peak level of $200/per barrel after about 6 months of reaching oil's historic anticipated zenith at $400/per barrel.
The time to take action is now. We have roughly 3 years to mitigate the potentially disastrous effects of peak oil and eliminate our dependency on oil. If we work intelligently and quickly, then we can reduce the demand for oil enough to take the pressure off the price spikes and avoid supply chain and transportation meltdown, which would threaten everyone's food security - especially those on the OECD developed nations and especially those living in America.
Eliminate your commute, move closer to work and your food supply (grocery store) and restrict your social life to your local area, as far as possible. If you own a business, go electric for power and get off of oil. Very little electricity generation in the USA is powered by oil. Truckers are already converting their engines to run on natural gas, as well, and this trend should increase. Onshore instead of offshore your manufacturing. Localize and decentralize your production and distribution.
The choices you make today will save or kill the weakest segments of the global economy literally and figuratively depending on how high oil prices spike. The global food supply chain depends on oil and even while oil and food may be plentiful, it may become unaffordable for millions for an extended period of time - long enough to kill.
Take it serious. The global food supply has been reduced to 72 days of consumption according to the USDA. A global supply chain meltdown of even 2 weeks or more, what to speak of 72 days or more, could threaten the lives of millions, if not billions, simply because of the distance between people in outer lying areas and the food stocks. Even if food is there, it could become a challenge to get the food to the people in time in a $400/barrel scenario that lasts any extended period of time.
Ideally, every person on this planet would have a 6 month to 1 year personal reserve of food grain in their home to help absorb the shock of a peak oil price spike triggered by declining global oil production. That is not going to happen any time soon on a 72 day global food supply.
We need a 365 day global food supply that is individually distributed. Everyone should be storing at least 50-100kgs of food grains (like whole wheat or rice) per adult (count two small children as 1 adult) above the age of 14. That is enough calories to survive 6 months to a year on a minimal diet of 1 meal a day.
By going vegetarian we can increase the global food supply by a factor of 300% to 220 days without increasing production or farm land because 70% of food grains in the USA are diverted for fattening animals for slaughter - an unnecessary waste of food.
Take action and eliminate the demand for oil. Millions, if not billions, of lives depend on it - maybe even your own.