The Need for Globo Hydro power

The fact is oil is not a finite resource of our modern world and its steadily running out.

Petroleum Experts believe we will run out of oil within 3 years!

Since 1965, the amount of oil discovered each year has inexorably plunged, despite all our advances in the technology of mining.

The last time a whole new province was discovered was the early 1970’s with the average size of an oil field discovered in these times getting around 50 million barrels, and we are using 84 million barrels a day.

That is, we are using 2 barrels of oil for every 1 barrel of oil discovered.

“Peak oil” is the point when serious concerns arise. For when oil is first pumped, its under pressure and comes out easily, thus production rises. But over time, oil pressure drops, so water is pumped in to maintain pressure. At the half way point, “peak oil” is reached. And, the decline begins thereafter.

Dr Leggett predicts 2008, 2009, certainly no later than 2010 is the point at which we will no longer be living in a world with supplies of generally cheap oil.

Experts speaking out are terrified of an apocalyptic gulf between dwindling supply and rising demand from the Middle East.

With panic of this nature causing collapse in the market like October 1929.

In this light, “alternatives” seem to be the reasonable answer - like solar cars or hydrogen cars.

However, transition to a totally hydrogen run car is predicted to be about 20 years away, states Professor Peter Newman, of Murdoch University, Perth, Australia.

For totally run hydrogen cars, the technology is still being developed. Plus there is a distinct need to attain public acceptance and trust of hydrogen storage units in their cars.

The situation of “peak oil” is imminent, and the gap between current need and future alternatives is on our doorstep ready for a solution.