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Peak Oil and Self-Sustainability
Transcript of Peak Oil and Self-Sustainability
What is peak oil?
Who/what does oil affect?
What’s bad about peak oil
-----pros and cons? What is Peak Oil? “ ‘Peak Oil’ refers to the maximum extraction rate of oil, after which the rate of extraction will decline.” (transitionculture.org)
Oil is NOT an infinite resource.
“According to IEA, most countries outside the Middle East have reached their peak in conventional oil production, or will do so in the near future. The United States is a case in point. Even though the United States is currently the third-largest, oil-producing nation,6 U.S. oil production peaked around 1970 and has been on a declining trend ever since.” (Pearson Ed.)