Here it comes.
I’m thinking there’s still 3-5 years left to modify our lifestyle to a point where we’re not so dependent on transport fuel, but that’s about it. Barring any black swans, that is.
Heavy Oil Shock
On the one hand there is the sweet crude from fields in Texas, Libya, Saudi Arabia and the Gulf States; on the other there are the ultra-light condensates fracked out of the shale plays, the bitumen boiled out of Canadian tar sands and the high-sulphur toxic stew being extracted in Kazakhstan. The former powered the unprecedented burst of global industrial expansion between 1953 and 1973. The latter are the dregs that humanity will have to get by on in the future.