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Tuesday, August 6, 2013

Peak Oil

Peak Oil. Ever heard of it? To summarize, it is theory that we are going to keep steadily consuming oil until we reach our absolute maximum supply (the peak), and then the rate of production of oil will fall into a rapid decline. The real controversy is when this will happen? Some predict it will happen any day, others estimate it will be several years, however, the IEA (International Energy Agency), which we met with today, denied the theory of peak oil. Instead, they believe we will adapt to alternative sources of energy, and reduce our reliance on oil way before we ever run out of it. In other words, we will avoid this problem completely. Is this possible? Are we moving fast enough, adapting quick enough, to avoid peak oil? Or will we continue to rely heavily on this natural resource until it’s too late? 

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