‘Peak oil’ is a technical term to describe the way in which we have used, or are getting very close to having used, over half of all the oil in the world. It suggests we will never be able to produce oil in quite the same way again. This means will be much more restricted in our ability to consume petrol and oil-based products which has serious implications to our current way of life.
Over the last few years we have all witnessed the costs of motoring and heating our houses going up as petrol and gas has become more expensive. From time to time we hear more people saying things like ‘we are running out of oil’. While that may not be strictly true, it does ask us to wonder how much longer we can continue to depend on the supply of oil that keeps us going. ‘Peak oil’ gives us a more accurate understanding of this situation and our relationship with the energy supply we have come to take for granted.
Why do we need to know about peak oil? Almost everything we do depends on the availability of cheap fossil fuels, particularly oil. Just imagine how difficult life would be without our regular supply of cheap oil. Peak Oil says we need to start preparing now for this eventuality.