No matter what you think, oil is not an infinite resource and sooner or later it will run out. Peak oil refers to a point at which the world’s oil production peaks, at which point supply declines and since consumption is still increasing rapidly, you end up with rapidly increasing prices, and the potential for geo-political mayhem.
I have seen experts say that peak oil happened as early as 2004, and others who say it won’t happen for another 50 years. This latest study says it happend in 2006, and we are already seeing some of the effects of it.
Steep decline in oil production brings risk of war and unrest, says new study
