Peak Oil

What is Peak Oil? The term “peak oil” is used to describe the point at which the earth’s supply of oil will no longer be able to meet our energy needs. Oil is not a renewable energy source, and therefore can and will be exhausted at some point in the future. There is still a lot of debate about the projected date of peak oil due to our inability to accurately take stock of current world oil supplies. As early as the 1950’s geologists have been warning of an oil supply collapse. M. King Hubbert noticed a logistics curve in oil discoveries and based on these findings he predicted that there would be a global oil peak between the year 1995 and 2000.

 

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