Lack of Energy Security

• The world’s largest oil fields were discovered 50 years ago and since that time discovery has declined.
• Approximately 42,000 oil fields have been discovered to date, but 75% of the oil unearthed came from just 400 fields. 
• Annual consumption has exceeded discovery since 1980.[16]

There are some who believe there is more oil to be discovered, but the top oil companies have failed to find anything of major significance during the past several years.    From 2000-2003 the top 10 energy companies all lost more money on exploration for new reserves.[15] Even though more oil will be discovered, history has shown that a peak in production shortly follows a peak in oil discoveries.[14]

A study by the United States Geological Survey in 2000 predicted that the world would reach peak oil production in 2037 and that the current production rates could only be sustained for another 50-100 years.  Other experts argue that the current estimate of global oil reserves are grossly overestimated and that the peak will come much sooner.[17]

Many developing countries import most of the fossil fuels they rely on. Furthermore, rural communities in developing countries throughout the world remain unable to connect to the grid due to location or high electricity prices, and rely on firewood, dry cell batteries, kerosene, and candles as their primary source of electricity.  Developing countries remain far behind in their ability to implement renewable energy technologies because they lack adequate human and institutional capital to do so.

Besides the dwindling supply of oil reserves, burning fossil fuels contributes to greenhouse gasses.  Every car adds 12,000 pounds of carbon dioxide to the environment every year on average.[18]  This is a growing problem as the world population is growing exponentially and more cars are being built every day.  In 1950 there were 70 million cars on the planet. By 1994, that figure had increased to 630 million, and by 2025, there will be a billion cars if current growth rates continue.[19]  This trend cannot be sustained, as carbon dioxide is a greenhouse gas and the increased concentration on earth is contributing to increased temperature on the planet.  The burning of fossil fuels by motor vehicles also contributes hydrocarbons and nitrogen oxides, which are hazardous to human health and the environment, respectively.[20] 

We are all part of a global economy where fuel resources are dwindling and the negative environmental effects from burning fossil fuels are accumulating. The strategy for reducing toxic emissions and our global dependence on non-renewable fossil fuels should include more fuel-efficient cars, city planning that favors the pedestrian over the motorist, more public transportation, less driving, and integrated renewable energy and waste systems.