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THE PEAK OIL DEBATE: CRISIS OR COMEDY?
Submitted by Jeremy on October 22, 2006 - 9:51pm.
Type of resource:
Slides/Presentation
Brief Description:
Regardless of when (or whether) Peak Oil finally arrives,
A multitude of unforeseen consequences occur when
the event arrives:
– Economic prosperity threatened;
– Supply of abundant food and water at risk. understanding the issue is critical.
Oil Demand Is The Killer Issue
* Oil demand became “a runaway train”.
* Growth in the next 3 months is estimated to total 2.4 million barrels per day.
* Growth in next 15 months is estimated to total 4.3 million barrels per day.
* By fourth-quarter 2005, world could demand almost 86 million barrels of oil per day.
* In early 1990s, most oil experts thought demand was permanently stuck at 66 million barrels per day.
