Peak Oil? Thursday, May 29, 2008
Posted by ei-forum in Miscellaneous.trackback
With the oil price at an all time high, we hear more and more talk about ‘Peak Oil’ but what does this really mean? This theory refers to when the maximum rate of global petrol production is reached, after which the rate of production enters its terminal decline. If the global consumption is not tackled before this peak, there will undoubtedly be an energy crisis due to the drop of supply and rise of demand.
Here is a CNBC in depth interview on the subject:
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