Daniel Olev

Peak Oil and Growth: the Challenges and Opportunities Posed by the Finite Character of the Fossil Fuels to the World Economic Order. Daniel Olev

In this work I have tried to demonstrate the fundamental difficulties our society faces as we are confronted by the imperative to transition our economy to low carbon future. I have specifically concentrated on the energy component of the economy as a creation source behind the production of goods and services. Oil in particular is on the top of the list in the table of primary energy providers as ?enabling? and ?connecting? fuel due to its universality in the use of the internal combustion engines designed to drive our machinery around the globe. Given the finite nature of fossil deposits in the core of our planet and more or less accepted in scientific community fact that we have reached the maximum extraction rates of easy to find, produce and refine oil, as well as taking on board the fact that it is almost for certain that continuous usage of carbohydrates as a main source of energy can irrevocably destroy the fine natural balance of gases in our atmosphere I have tried to show the list of the open questions and the scope of the problems, faced by our civilization in efforts to address them.