What is “Peal Oil”?

Peak Oil is the idea that the worldwide production of cheap oil will someday reach a peak. After that point, getting this resource from the earth will quickly slow as remaining supplies become more and more difficult and costly to get.   

Why is this important?

There is a lot of debate on when this ‘peak’ in cheap oil production will happen.  Some say we’ve already passed the peak; other forecasts say the peak will occur in the next 30 years.

The idea of peak oil is sobering because of what is could mean if oil were too scare or expensive. Oil is currently the most convenient transportation fuel; however it’s also a key component in the production of plastics, paints, pharmaceuticals, fertilizers, tires, electrical and health care equipment, and much, much more.

It is difficult to image the potential social and economic consequences worldwide once a relatively cheap and abundant supply of oil is exhausted.  And because oil is a finite resource (meaning only so much exists), one day these supplies will end.

What is being done?

A small but growing number of policy-makers are beginning to talk about this issue and what it would mean if where cheap oil is no longer a reality.  Planning has begun in a limited number of places to prepare for that day.  These plans are generally around various ways to conserve oil.

How does peak oil link to climate change?

Conservation practices have the added benefit of reducing the rate and impact of climate change, as producing and consuming less oil means reducing the amount of greenhouse gasses adding to the climate change problem.

For More Information

Peak Oil’ Primer

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