THE CONQUEST OF THE ROCK

This is also why it is crucial that you understand the concept of “Peak Oil,” which is a shorthand way of expressing the geological concept that mankind has reached a “peak” in its ability to produce this depleting resource from the crust of the Earth. The world’s total level of production of about 84 million barrels of conventional oil per day will not last much longer. It is on the cusp of decline.

As U.S. motorists confront the long-term reality of paying $3 and more for a gallon of gasoline (and I believe that it will be much more, barring some worldwide economic collapse), they are directly experiencing an unpleasant economic and energy future in the form of Peak Oil. Hubbert predicted it many years ago, and that future is now.

 

[PS This article is located 2/3 of the way down the page – Ed]

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