Could someone give me the background to just what "peak oil" is?
I keep hearing about it, I know what it is to do with (oil), and production (I guess?) but beyond that... ??? 
Thanks! 
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From what I understand, the peak in "peak oil" is when we've pumped and used more than 50% of the oil in the world. I guess a way to imagine it
visually, is a mountain. Once we've passed the peak, we're on our way down to zero. Once the peak is passed, oil production will go down and the
cost go up, as there is less oil to go around to more people.
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reply to post by octotom
That would be the correct terminology. It basically means it is the point in time when the maximum rate of oil extraction is reached, then begins to
decline.
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Peak oil is an excuse for TPTB to rob people blind. Research abiotic theory. The Russians knew the truth about oil back in the 50s and 60s. Now
that they have western tech to drill it where it lies, they like to keep the fear game going because that is what makes the money.
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Originally posted by octotom
From what I understand, the peak in "peak oil" is when we've pumped and used more than 50% of the oil in the world. I guess a way to imagine it
visually, is a mountain. Once we've passed the peak, we're on our way down to zero. Once the peak is passed, oil production will go down and the
cost go up, as there is less oil to go around to more people.
That says it as well as anything. The issue is, what it really is. We've heard about it for years and years now but when you get right down to it, we
don't really know. Every time there's another declaration of a date for peak oil, new reserves are found as our technology advances and increases
our ability to find it.
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