Peak Oil News: Why 'peak oil' may soon pique your interest

Monday, August 06, 2007

Why 'peak oil' may soon pique your interest

csmonitor.com Click for article


Excerpt:


Do a Google search of the Web on "global warming" and it calls up more than 80 million references. Search for "peak oil" and the number exceeds 10 million.

In two years or so, world concern over crude oils supplies should be so great that a Google search on that subject probably will top that of global warming, predicts Matthew Simmons, chairman of Houston-based Simmons & Company International, an investment banking firm for the energy industry.

Peak oil refers to the time when production of crude oil in the world (or in a country or in an oil field) reaches its peak and starts to slide. It doesn't mean the world has run out of oil – only that the supply of oil isn't rising to meet growing demand. That change could be reflected in even higher prices, if the demand for oil doesn't stall or fall.


2 Comments:

At 3:43 PM, August 06, 2007, Anonymous Anonymous said...

Just to clarigy, Peak Oil refers to the moment that an oil reserve has given up roughly half of its resources and the later half becomes more difficult and expensive to extract. See www.oilempire.us for an excellent analysis of Peak Oil, among other things.

 
At 2:30 PM, August 07, 2007, Blogger Offgrid said...

Time to go-offgrid with solar and wind.

 

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