Red Cuts, one of the more conservative authors at Cutting to the Chase talks about his reaction to the Peak Oil theory.
“Here’s the lowdown: Peak oil refers to the peak of world oil supply. There’s only so much of the stuff in the ground. Eventually we will hit a peak of oil production, after which we face an inevitable decline until the last drop is pumped from the last well.
Peak oil theorists — among them reputable physicists, geologists and oil industry gurus — imagine a cresting wave of oil production that began about a century ago. As the spigot of oil flows, production levels rise until we hit the peak. Some theorists suggest we’ve already hit the peak. Others say it’s a few years hence. Others argue decades away.
So what? That means once we hit the peak we have another 100 years or so of oil, right? Big deal.
Read on to see Red Dirt’s reaction to this theory.