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The End of the Industrial Age

One interesting thing that captured my attention while reading the article was the oil numbers that led to the energy crisis that was experienced in the 1970s. It is important to note that at that time it was clear that some other sources of fuel were necessary to be ventured into if the crisis was to be avoided. From the article‚ it is clear that the numbers were appearing as if the world’s oil was surely coming to extinction. It goes without a doubt that quite enough investment had been done in the oil industry. This was based on the fact that there was a picture that had already been crated that the underground oil wells were so abundant that the world was not going to experience any major shortages anytime soon. This was‚ however‚ not the case for the oil numbers since the year 1964.

Though some huge investments had been put into the discovery and exploration of the oil reserves‚ more exploration and research as well as investment should have been put on matters regarding the employment of sustainable use of oil that was being harvested from the underground wells. More research would have aided in determining on how long the underground wells would have lasted so that the country would have looked for alternative energy sources to replace oil‚ and in that way would have avoided the energy crisis that was faced in the 1970s and the subsequent years.

This is primarily because it was becoming increasingly harder to find new oil fields and the oil fields that had already been discovered around the world were nearing their peaks‚ while the need for oil around the world was continuously increasing considering the fact that the world was still under the industrial revolution‚ which meant that the countries that were not yet developed were starting to embrace the industrial revolution.

One important point that is pointed out in the article is that some of the people that took time to take a closer look at the oil numbers found out that the volume of the world’s oil that was being harvested from the oil wells was far much less compared to the volume of the oil that was found in the newly discovered oil fields. This was an observable trend from the data of 1964 and the consequent years. This statistic‚ I believe‚ should have been enough warning for the world that sooner or later an oil crisis was going to arise.

In 2000‚ for instance‚ the volume of the new oil discoveries was about one quarter of oil drawn from the oil fields that had already been in existence. This was a clear warning considering the fact that oil needs to be discovered in a given oil field before it is pumped and considering the fact that discovered oil is pumped out of the reservoirs once‚ then the slow rate of the discovery of new oil fields was going to lead to a collapse in the economy of the oil industry. This is exactly what was seen during the oil crisis of the 1970s.

One closing comment that I think is very important is that the oil fields are getting dried up since as it has been shown in the article‚ it is harder to find new oil fields. It is therefore very important that the world turns to renewable energy sources to reduce the rate at which the oil reservoirs are being depleted around the world. In addition to that‚ using renewable sources of energy will aid in reducing global warming and climate change in general. Every country around the world should therefore advocate for renewable energy sources lest we face serious climate change problems in the near future and then we might not have the means and ways of dealing with so it is better that the world does whatever possible to ensure that such a time never comes.