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Summary: The global recession might push back the arrival of peak oil for three reasons.

1. Less consumption now leaves more oil in the ground for future use.


2. Less investment now in oil exploration and development means less consumption in the next few years (or decade).


3. Alternative energy technology has more time to develop, reducing future oil consumption.

This is a grace period, useful if we make good use of the time. If we squander it, we might find ourselves in more poorly prepared foe peak oil than if the recession had never happened. For example,

1. energy research might fall victim to budget cuts, and


2. programs to develop unconventional and alternative energy sources might be scrapped.

RGE