Reply #9: This is only the begining... [View All]

[YapiYapo]

Peak Oil :

"The Association for the Study of Peak Oil and Gas was founded by the geologist Colin Campbell. It argues that the Hubbert model is fundamentally correct, and that the world faces the midpoint, or maximum, rate of global oil production around 2007"

"In March 2005, the International Energy Agency projected annual global demand at 84.3 million barrels per day , which means over 30 billion barrels annually. This makes consumption equal to production, leaving no surplus capacity. Even if there were temporarily sufficient oil reserves that could be used to meet rising global demand, there is an unknown limit on the increase of oil production capacity, absent additional investment in oil production, transportation and refining facilities. Also in March 2005, the Algerian minister for energy and mines stated that OPEC had reached their oil production limit."

From : http://en.wikipedia.org/wiki/Peak_oil

http://www.peakoil.net/

More tinfoil theory but likely to happen :
http://www.fromthewilderness.com/free/ww3/100303_eating_oil.html
http://www.lifeaftertheoilcrash.net/