What is Peak-Oil?May 12, 2008 at 5:00 am | Posted in Energy, Peak Oil | Leave a comment
Tags: Energy, Peak Oil
If one accepts that petroleum is a limited resource, one should also accept that there comes a point where, as we pump more and more oil from the earth, we eventually start getting less and less. Wells become unproductive and oil fields become depleted. In 1956, the theory of Peak Oil accurately predicted that United States oil production would peak between 1965 and 1970.
Conventional world oil production is predicted to peak by most models around 2010 and decrease rapidly in the following 20 to 30 years.
Just in time for the Gore Minimum.