Last month in CBJ’s Clean 15 Series, I very briefly mentioned the concept of using more resources than we replenish as a major premise of our current business paradigms. In the article, I quoted the International Energy Agency’s Chief Economist, Dr. Fatih Birol:
“The public and many governments appeared to be oblivious to the fact that the oil on which modern civilization depends is running out far faster than previously predicted, and that global production is likely to peak in about 10 years.”
The article went on further to say, “This quote was made in 2008, however the IEA’s first detailed assessment of more than 800 top oil fields in the world (this represents about 75 per cent of global reserves) have found that the biggest fields have already peaked and the rate of decline is faster than previously thought. The late Matthew Simmons believed that production peaked in 2005 and he went on record to say that the world would need approximately four Saudi Arabias worth of oil to keep pace with the predicted demand. The exact moment that we experience this peak is obviously up for debate, however this is concerning because all of our economic and social systems are based on oil. From our consumer products to our food, to our transportation and our energy with its aging infrastructure and from our viewpoint many of the world’s giant companies are taking notice. We know that we extract more resources than we replenish and it appears we will need a very focused global effort to shift our relationship between resources and business.”
READ FULL ARTICLE HERE
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