The Peak Oil preacher

Categories: Analysis
Published on: December 14, 2015

Fair Planet / Vera Häggblom / 12 December 2015

johan_landgrenCritics of the Peak Oil phenomenon argue that new techniques, such as the extraction of shale oil – which has increased the oil production dramatically in the United States during the last years – if needed could be exported to the rest of the world. But Johan Landgren argues that it is crucial to make a distinction between conventional oil – that is petroleum extracted through traditional oil well methods – and unconventional oil, such as shale oil and oil sand: “Any geologist in the world knows that the unconventional oil is a completely different thing. It costs much more in terms of both energy and investments to extract. In order to replace the conventional oil with the unconventional oil, we need a brand new kind of economy which is not fueled by cheap energy, but on expensive energy.”

Mr. Landgren believes that the shale oil findings have bought the US some time, but that the conventional oil production – which according to him constitutes 85 percent of the total crude oil production in the world – is likely to peak within the next few years, and thereafter decrease by approximately 6 percent each year.