Will we ever have another gas shortage like the one in the 1970s?



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    “Peak oil” is a theory which holds that fossil fuel reserves are quickly running out, and that fossil fuel production has already or nearly its peak before being forced to slow due to the decline of oil reserves. It cannot be argued that gasoline is a limited resource, or that oil is produced in the Earth more slowly than humans are using it up. None the less, most oil companies disagree with peak-oil theorists and argue that the peak of oil production on our planet could be as much as 40 years distant.

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