The Peak Oil Crisis: Issues

As 2007 winds down, it is good time to review some of the major issues that those of us following the peak oil story are watching closely.

Depletion vs. Production is, of course, the heart of the peak oil story. Every year production from the world


The prospects for an economic recession or worse increased markedly during the past six months. In recent weeks, oil prices have been moving up and down rather vigorously on economic news — interest rates, subprime losses, government bailouts, etc. — rather than on traditional oil market concerns such as stockpiles and geopolitical threats to production. Many believe that the recent $25 a barrel jump in oil prices was largely the result of the Federal Reserve