What is Peak Oil? How will it impact the Global Economy?
Posted on September 24th, 2007 by johnb
In the 1970’s we found ourselves in long gas lines, with oil product prices soaring to the sky. We had hit an oil production peak for the United States. Never since have we managed to sqeak as much oil from American soil as we did back then. Even with advancing technooligy, old wells go dry faster than we open new ones in this country. Are we approaching the same point with World oil production? If so, what will it do to us and the world?
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