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THE IMPACT OF OILDEPLETIONONTHE WORLDECONOMY  
By 
VINEETHVIJAYAN(
currently doing BBS from delhi university and a regular in making stupid studieslike this which aims to uncover the facts people already know and don’t want themto knowgot it? 
)
No if u like this plz make sure u pray at least one time for the people at
Darfur and Tibet
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THANK YOU
INTRODUCTION TO THE PROBLEM
In the 21
st
century the world must solve two great problems. These problemsare rarely discussed by the public and have received little media attention.Neither are they discussed by those in power. The two problems are:
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•
Overpopulation in the developing world.
•
Over consumption in the developed world.Of course it's all about resources: Either too many people consume a fewresources each totaling a lot of resources, or a few people each consume toomany resources again totaling a lot of resources. What is important to note isthe absolute consumption, not the
relative
consumption.It is difficult to differ between the developing world and the developed world,but the canonical values usually used are that:
•
The developing world has 80% of the world's population andconsumes 20% of its resources.
•
The developed world has 20% of the world's population andconsumes 80% of its resources.
OIL DEPLETION: THE PRIMARY PROBLEM OF THE DEVELOPEDWORLD
In dealing with several problems it is worth to spend time singling out themost important problem of the set such as not to waste too much time onrelatively trivial matters. I believe that the
 primary problem
is that of asustained energy supply. Energy unlocks all other resources. Energy isrequired to transport raw minerals, to refine these, to manufacture goods,and to transport the goods to their destination. Without energy none of thesefunctions which are essential to society are possible.Today the primary energy source is oil.
Oil accounts for 40% of allenergy use
therefore continued access to this resource or an equivalent oran improved replacement is essential to continue the world as we know it.
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Oil depletion
is the inescapable result of extracting and consuming oilfaster than it can be replaced with artificial equivalents, due to the fact thatthe formation of new natural petroleum is a continuous geologic processwhich takes millions of years.. Many predictions have been made about thepotential 
implications
of passing the peak. These estimates range fromwarnings of a 
doomsday
scenario created by long term lack of growth tofaith that the 
market economy
 will allow a relatively smooth transition toother energy sources through
technological
 solutions.
USES OF OIL
Transport 
Petrol and diesel are probably the first things that spring to mind when onethinks of the uses of oil. Because of its liquid nature and the power/massratio, there is nothing else that can easily replace oil. Cars can be adjusted torun on electricity or hydrogen but these are wasteful of energy and unsuitedto the future. Road transport can replaced to a certain extent with publictransport and oils from plants, and ships could reduce their energy usage bymodern sails
Electricity Generation
About 42% of primary energy (oil, natural gas, coal) is used to generateelectricity and if oil is our society’s lifeblood, then electricity is its oxygen. Asseen by the blackouts in east USA and Canada in August 2003, even a fewdays without electricity and we grind to a halt. There are alternative ways ofgenerating electricity but these make up only a small amount of electricitysources at the moment (see Chart S1), over three-quarters comes from oil,gas and coal. Hydroelectric is limited by availability of water and nuclearpower is out of favour. The only option left is renewables and these are manyyears away from being developed enough. We should have been pouringmoney into research in the 1970s and 1980s.
Farming 
One important use for oil which many people are unaware of is agriculture,and not just to fuel tractors and combine harvesters. Fertilisers andherbicides are oil- and gas-based, and farmers use animal feeds that comefrom around the world.
Plastics
It is often forgotten by many people that plastic products are based onpetroleum. A glance around any room will show how pervasive they are.There are many other oil-based household objects. The following is a list of just some products that may disappear with oil.
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