3 ms·
Peak oil is defined in terms of production. When total global production decreases, the moment of maximum production will be peak oil. Unless of course it's lat
by samatman 3y ago
Peak oil is defined in terms of production. When total global production decreases, the moment of maximum production will be peak oil. Unless of course it's later exceeded, which could easily happen.
Why this will happen, when this will happen, and what the economic consequences will be, we can only speculate about. But it's the amount, not the price.
- Turing_Machine 3y agoYou are correct, of course. However, most of those using the "peak oil" scare tactic try to pretend that once "peak oil" is reached, there will be a sudden and drastic drop in oil production. I think that's what the person you're responding to was alluding to.