The notion of "Peak Oil" may soon be a myth, with the re-emergence of the Russian empire at its helm. While many old timers during the Reagan Gorbachev era thought Russia had gone bankrupt and then into a group of dissenting rogue colonies, may soon be disappointed to know that this could become cold war history.
The Russian oil empire, is growing again, and this time the success of Lukeoil may be pale in comparison. At the farthest reaches of the Russian empire every major corporate giant and their friends are building the largest oil and gas project ever created. This project is so enormous that the Discovery channel has featured it on their "Building the Ultimate" series. Some of the oil exploration rigs can only be built at the largest shipyard on earth of which is located in South Korea.
This construction is currently underway on the economically challenged island of Sakhalin. This area once a struggling fishing and timber based community has now become a international city comprised of five thousand foreigners from the oil and gas exploration and construction industry.
The local, Russian natives, needless to say are not happy with the unwelcome intrusion and have staged several environmental protests including the obstruction of routes and aggravated construction delays and protests. With Global billions in international investment already made, all environmental and ecological concerns are being placated but not tolerated insofar as stopping the completion of this mammoth project. Oil and Gas is expected to begin flowing within the next three years alleviating most peak oil concerns for a while.
If the projected estimates of the attainable gas and oil are correct this project will save the world from the fear of peak oil for the next several decades, and in the process will make Russia the dominant oil superpower in the world. Russia's thirst for oil is still not over, even despite this large discovery, believe it or not they are claiming the North Pole all its oil, Gas, and Minerals, to include valuable gems for themselves.
Without any doubt the debate over who owns the North Pole is now alive and well with every nation on earth doing its bidding. This scenario is an eerie repeat of who owned America after Columbus discovered it in 1492, hopefully Global warming now, making oil exploration more viable, will not lead to a repeat of history where the world is at war over these new found territories and their associated resources.
Should the Sakhalin's oil rich regions stave off peak oil, this should be our cue to to come up with our alternative energy plan, to include a hydrogen based economy. To say that this environmental disaster of a discovery, (and project) without some sort of an alternative energy lesson is without merit, would in fact be a sad future energy agenda.
This dicovery should hopefully help alleviate the energy crisis in the US some time in the future.