Oil production across the world will decline by more than half by 2030, which might trigger major wars for energy and cause social and economic breakdown.

The oil production across the world is anticipated go down by more than half around 2030. Acute deficiency of fossil fuels will result in wars and major social breakdown. Oil production reached the zenith in 2006, much before the expectations of experts, and will slump by half as early as 2030, according to the German-based Energy Watch Group (EWG), as reported by Irna.

The global oil output is presently close to 81 Million barrels per day, which EWG anticipates to drop to 39 Million barrels per day by 2030. It also forecasts significant downfall in coal, gas and uranium production in the long run as these energy sources are getting exhausted with their increased use, as published by Irna.

The declining figure is worrying the industry experts. Experts are of the opinion that the world is at the threshold of a structural change in its economic set-up. This change, propelled by depleting fossil fuel reserves, will impact the daily lives in almost every aspect.

The problem of oil scarcity in future depends upon two major factors: growing population and the increasing consumption by developing countries. In many developed and developing countries, industrialization and machinery automation drives the demand for oil to such highs that it turns out to be a massive incurable malady for the entire world.

Since the world is facing the threat of global warming, there looms a danger for oil wells as well. Industry experts are of the belief that the solution, to a certain extent, lies in discarding private vehicles for an energy-efficient light rail mass transit system, and using bicycles. Besides, another viable and sustainable option is to overcome this shortage is to encourage industries that focus on producing some of its own energy (via solar panels, wind turbines, and micro-hydroelectric).

A Senior Research Analyst at RNCOS says, “Day-by-day increase in the demand for oil is resulting in escalating prices for oil. However, price is not the main concern, but the production of oil is the major issue that is troubling various oil producers. The world needs to move rapidly towards substantial deployment of renewable energy sources and has to radically increase energy efficiency. As demand can’t be checked, the oil industry has to pit itself on increasing production”.

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