
In this post we’d like to talk about “peak oil” We’ve all been fed a lot of info about oil, figuratively speaking of course, at least once in our lifetimes by friends and relatives. And it couldn’t be a more actual topic! But the idea that we want you, the reader, to think about is that behind all the clichés, like Americans/war/multinationals/nowevenchina, lies a pretty interesting theory which was developed way back in 1956(so it ain’t exactly cutting edge…) which analyzes how the production of oil varies in respect to new sources(wells), and therefore what it really means is a correlation between demand and physical supply. The theory had some shocking forecasts. Oil is a limited resource and obviously not renewable. “Hubbert’s peak is the moment in which oil extraction reaches its highest value. After it hits the peak, production will start to eventually decline. The theory guessed that the peak would occur in 2007. After that, supply will start to decline, and oil prices will eventually start to climb(where have I heard that one before?). This is an effect of the inability of oil suppliers to satisfy the ever-increasing demand(think China). We foresee a great volatility in oil prices, because of their speculative nature. Both of these things have been happening lately, which gives us another reason for thinking that the peak is at hand.” (ASPO Italia, Association for the Study of Peak Oil and Gas)
This thing might give us something which will make us think about many aspects of the near and distant future.
Here you find two other links:
Wikipedia: Hubbert Peak Theory
ASPO
Peak oil - News and Message board