Peak oil is described as a time when the maximum rate of petroleum extraction is reached, causing demand for oil to overwhelm the supply.
According to some experts, peak oil has already hit. The explanation for the lower-than-expected impact lies in a global economic downturn, according to Australian Infrastructure advisor Peter Newman. John Sauven of Greenpeace believes that the current peak in demand for oil will be different than oil supply issues in the past because the oil that is available is becoming harder and harder to access.
That is difficult to say. Peak oil, or the time when our oil production will hit the maximum and decline due to depletion of the oil left on earth, has either already happened, will soon occur, or will never be happening depending on who you talk to. Professor Peter Newman declared that peak oil happened in 2008, while a group from Oxford predicted we would reach peak oil by 2015.
Of course, we have to take into account all the different factors. Increase or decrease in population, advent of new technologies to reduce our oil needs or discovery of new oil reserves or processing technology will affect when we reach peak oil.
Click here to cancel reply.
Sorry,At this time user registration is disabled. We will open registration soon!
Don't have an account? Click Here to Signup
© Copyright GreenAnswers.com LLC