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Extra info for A Thousand Barrels a Second: The Coming Oil Break Point and the Challenges Facing an Energy Dependent World

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The struggle for control over these oil-rich lands has played hot and cold for the last 100 years. Today, for instance, hardly a day goes by when we don’t hear news about Mosul, a major northern chapter 2 T h e T h i rt y - T h r e e P e r c e n t A d va n ta g e city in Iraq. Conflict over the region surrounding Mosul—the Transcaucasus to the north, Iran to the east, and Arabia to the south—goes back to the post-World War I era. Immediately following the Great War, Mosul became the focus of intense global attention because it sat above an oil field of tremendous promise in what was then known as Mesopotamia.

With the addition of the try works, whale ships no longer needed to return to shore after capturing a whale but could process it and store the oil in barrels with only a brief interruption of the hunt. Self-sufficient for longer periods of time, and with increasingly specialized work to do on board, whale ships began to resemble offshore drilling and production platforms. One of the most famous ships in the history of the American whale fishery was the Charles W. Morgan. Named after its primary owner, the Morgan was a 351-ton ship launched in 1841 from New Bedford, Massachusetts, a town that rivaled Nantucket as a center for whaling.

S. Federal Reserve Board, noted in 2004, when he said: “If history is a guide, oil will eventually be overtaken by lesscostly alternatives well before conventional reserves run out. Indeed, oil displaced coal despite still vast untapped reserves of coal, and coal displaced wood without denuding the forest lands. Innovation is already altering the power source of motor vehicles, and much research is directed at reducing gasoline requirements” He went on to say, “Nonetheless, it will take time. ”6 Although Greenspan omitted whale oil from his historical overview, he got the trajectory right, but his sanguine comment about the time and ease it will take to navigate uncertainty misses the proverbial elephant in the room.

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