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The period from 1950 to 2000 will be remembered as the Golden Era of modern civilization, the pinnacle reached by humans after a million years of evolution. This brilliant half-century was sponsored largely by fossil fuels, especially oil, which brought unprecedented economic growth, plentiful transportation and a rich and diverse lifestyle.
But the new millennium has brought the end of cheap oil, and civilization is suddenly teetering on the edge of collapse. Even if we manage to scrape through (and it would require heroic efforts), life will change. We're at one of the most important turning points in history, yet we persistently ignore the coming meltdown and just want to party on. Nero would be proud.
So, why is civilization teetering?
First, peak oil has arrived. There is no better signal than the price of oil, which has skyrocketed past $130 and shows no sign of slowing. Some shrug and claim there's still a lot left, technology will find it and extract it. Others, as represented by the editors of Maclean's magazine, feel that we have grappled with costly oil before and by applying determined conservation and new efficiencies, we will cope.
Wrong! Wrong! Wrong! Peak oil, this two-syllable piece of jargon, is another way of saying we are on the threshold of a major crisis. From now on the supply of oil will diminish each year, but population and demand will continue to grow. This is truly frightening because our modern industrial society is built on and totally dependent on this versatile fuel. It is the foundation for transportation, industry, agriculture, fishing and much more. As the gap between what economies and nations need and what they can get widens, bidding wars will erupt (they already have) and then shooting wars (one already has).
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