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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