Notice gas prices going up? You may not know it, but the oil supply has a lot more to do with you life then putting gas in your car, in fact civilization, as we know it will come to an end if we do not find other resources Most people have no idea how crucial oil is to their lives. Most believe it is a matter of supply and demand and that we don’t have to worry about “running out” after all, it won’t happen during our liftetimes right? Wrong.
Oil will not just "run out" because all oil production follows a bell curve. This is true whether we're talking about an individual field, a country, or on the planet as a whole.
Oil is increasingly plentiful on the upslope of the bell curve, increasingly scarce and expensive on the down slope. The peak of the curve coincides with the point at which the amount of oil has been 50 percent reduced. Once the peak is passed, oil production begins to go down while cost begins to go up.
This means that if 2000 was the year of global Peak Oil,......
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