Peak Oil is becoming an important factor in geopolitics
Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. Here is where you can follow the effect of this phenomenon.
Just a few months ago, we were told the world was running out of oil. We had to change our lifestyle and get rid if our gas-guzzling SUV’s now. Anyone not doing so was evil. Smart Cars for all. Now it seems there’s too much oil, and our good friends at OPEC are...