This is rather complicated because when we talk about reaching peak oil this is different than talking about being in a terminal decline of oil. Reaching peak oil means that we have reached our highest rate of extraction, after this there is nothing for us to be but be in a decline during which the biggest problem isnt so much running out of oil, but having enough to maintain our societies. Our economy would crash way before all sources were depleted because we are so heavily dependent on oil. So…. the most recnt data showig when we will reach peak oil? As we continue to find reservoirs, at this time it would be hard to forsee. Those who are optimistic hope this wont happen until 2020 and that in the meantime we will find alternative means.
Many experts contend that the world’s oil production has already peaked and many others think that if the world has not already reached peak oil, it will do so within a decade. Even as the world is reaching or reached peak oil, humankind will have no way of knowing so for years, possibly more than decades.
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