Peak Oil News: World Running Out of Oil Surplus, Some Experts Warn

Saturday, June 19, 2004

World Running Out of Oil Surplus, Some Experts Warn

AXcess News - Oil & Gas News

For the past century most of the advances in transportation and industry have relied on energy from petroleum and other fossil fuels, but some experts warn that the peak of oil production worldwide may be reached soon and that the economic and political consequences could be enormous.

Is the world running out of oil? In the debate over that question between energy experts, environmentalists and government policy makers it often boils down to the old question about whether the glass is half full or half empty. The question is tricky because it involves not just the amount of oil potentially available beneath the earth's surface, but the difficulties, dangers and the expense of getting it out.


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