| Peak Oil |
Peak oil is the point in time at which the maximum global petroleum production rate is reached, after which the rate of production enters its terminal decline. |
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Oil is needed to power the world and to produce enough food to sustain the huge current world population. We have probably reached the peak in global oil production, and from now on the production rates wil decrease There are some countries that have not yet reached this peak. Securing their oil supplies will be essential for the survival of big oil importing nations. Three countries who have not yet peaked are:
The USA's production peaked in 1970 and its the largest importer of oil in the world. Peak Oil production will affect almost every aspect of your current modern lifestyle in the West.
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| Are there people who dispute this? |
The figures are very much disputed. There is a large debate about the numbers on oil reserves. The conversations and debates have a large impact on valuations of companies and the price of oil itself, meaning its very difficult to get an objective analysis on these figures. A very interesting recent article on the subject, disputing the claims that we have passed the 'peak' can be found here: The Register - Peak Oil : Postponed - 17th September 2008
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| How can i find out more? |
I put together the following PowerPoint Presentation based on a chapter in Michael Ruppert's "Crossing the Rubicon". Resources PeakOil.net - Association for the Study of Peak Oil and Gas |