Peak oil is here, and it’s time to stop denying it. Peak oil is the name for the point when oil production reaches its maximum levels. If we mapped oil production on a graph, we would see the classic bell-shaped curve, with the peak at the top (makes sense, right?), then a flattening for several years, and then the inevitable decline. The concept of peak oil was demonstrated by the work of a geoscientist working for Shell, who in 1956 predicted correctly that oil production in the US would peak between 1965 and 1970. Many other industry analysts are now in agreement that we are either already at the peak or rapidly approaching it in terms of worldwide oil production. This doesn’t mean that we are running out of oil, but both the quantity and rate of oil extraction is being outpaced by worldwide demand for our most widely used energy source.
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