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https://ourfiniteworld.com/2017/07/22/researchers-have-been-underestimating-the-cost-of-wind-and-solar/

In the comments to the article,

The OIL CRISIS 2020-THIS TIME THE WOLF IS HERE!

The End of the Oil Age is Imminent

Recently, the HSBC oil report stated that 80% of conventional oil fields were declining at a rate of 5-7% per year. This means that there will be an oil shortage of ~30 million(Losing three Saudi Arabia's) barrels per day by 2030 and ~40 million barrels per day by 2040(Losing Four Saudi Arabia's) https://drive.google.com…/0B9wSgViWVAfzUEgzMlBfR3UxNDg/view

What is mentioned far less often is that annual oil discoveries have lagged annual production since the 1980s. Now, this problem has nothing to do with the recent decline in the oil price, which started in 2014. This has been an on-going problem for the past 30 years.

http://www.issuesmagazine.com.au/…/inline_images/08-Fig1.jpg

Now, the IEA is predicting oil shortages by ~2020 due to declining exploration. Here, the IEA blames this problem on the low oil price. But, this problem started in the 1980s. The problem is geological: we are running out of conventional cheap oil. Shale and tar sands are not the answer, either. Those resources are far too expensive, compared to conventional oil, because the global economy is based on cheap conventional oil. Expensive oil is not a replacement for cheap oil.

http://www.nasdaq.com/article/iea-forecasts-oil-shortages-and-sharp-price-rise-by-2020-cm757712 https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000 https://www.wsj.com/articles/SB10001424052748704436004576299421455133398

Society is very reliant on cheap oil.There is projected to be a shortage of cheap oil between 2020-2022

Shale and tar sand oil are very expensive and can never fill the gap left by cheap oil.

Imports are going to be very expensive. Most people will lose their jobs. most people will not be able to pay their debts.

Very little of society can operate on expensive oil. For the last one hundred years, we have created a civilization incredibly reliant on cheap oil.

It is reasonable with the relentless decrease of conventional (meaning cheap) oil our worldwide financial systems will buckle and crash…And then the lights will go out and that will bring to a close the Human Experiment….