Crude Awakening - Peak Oil Article

peak oil crisis

Click on link below to be taken to this Crude Awakening Peak Oil Article

A concise but good article discussing the end of cheap oil. It is now quite old (2006) but gives a good

overview of the situation. It talks about oil reserves, running out of cheap oil as the gap between

a peaking (then declining) supply and increasing world demand becomes increasingly tight in the future.

He also goes on to talk about alternative energy supplies, a tax on fuel in the US and why there is no

point in drilling in the Arctic. He urges the US to address the problem soon.

"Although oil prices will undergo cyclical ups and downs resulting from short-term factors such as seasonal demand fluctuations, overall, oil will become increasingly expensive. Driven particularly by the rapid economic growth in China and India and ever-increasing U.S. consumption, world demand for oil is rising. Much of the world's oil is produced by OPEC nations, which include Saudi Arabia and other Middle East countries, Venezuela, and Nigeria."

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