Peak Oil
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- Many predicition for Peak Oil neglect to consider non-conventional sources.
- Most resources cannot be fully eploited using current technology. Usually only around 30% of a resource is extracted.
- "In practical and considerably oversimplified terms, this means that if 2005 was the year of global Peak Oil, worldwide oil production in the year 2030 will be the same as it was in 1980. However, the world’s population in 2030 will be both much larger (approximately twice) and much more industrialized (oil-dependent) than it was in 1980. Consequently, worldwide demand for oil will outpace worldwide production of oil by a significant margin. As a result, the price will skyrocket, oil dependant economies will crumble, and resource wars will explode" (Savinar).
- The Association for the Study of Peak Oil and Gas (ASPO) predicted that Peak Oil (including non-conventional sources) will occur in 2010.
- Kenneth S. Deffeyes predicted Peak oil occured at the end of 2005.
- Most reserves are inlfated and are actually resources. They are not yet accessable or available for production with current technology.