Oil and gas crisis to grow further
The production of oil and gas will be all time highly because about one third of the oil reserves have been used. Most of the oil wells have become half empty due to their production phases says many of the geologists feel so. The more of oil is taken out we are in a difficult situation to bring the remaining of the oil to the surface. During the year July 2008 the production of oil was at its peak and was about 74,666 barrels per day.
However the peak oil has already been passed but nobody had marked the event as the production of natural gas is higher. There has been still more growing amount for gas and various natural gas is replacing the oil. More and more demand will hit the global peak one day in both the oil and gas productions while the prices skyrocketing. The problems could lead to further depressions and intermittent and some of the short recoveries. Due to all these there will be food production difficulty as the food is being produced by the help of nitrogen fertilizers.
Many of the governments and companies around the world have been knowing the problem as they find alternative solution. The alternative has been found in one of it called as hydraulic fracturing where tens of millions liters of water has been pumped. The pumped water are chemically treated under the impermeable sedimentary rocks which are called as the shales. While another method is coal classification which is a dangerous process dangerous for the climate and the oceans.