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University Distinguished Professor
Michigan State University, Dept. of Chemical Engineering
It is clear that the Age of Oil is winding down. Worldwide, the rate of discovery of new oil reserves peaked in the 1960s and in the US our peak rate of oil discovery occurred in the early 1930s. In recent years the world has used about three barrels of oil for every barrel of new oil reserves discovered. Thus we are living largely on past oil discoveries. There is still a lot of oil in the world, and we will still be using a lot of oil decades from now. But it will be increasingly expensive both economically and… [more]View Discussion