Peak Oil
What’s up with oil prices? Well, it’s not speculators, and there’s no relief in sight, meaning at least five more years of high prices with no easy fixes. The ugly truth? Peak oil isn’t fringe anymore—it’s going mainstream.
That’s the reading from the latest oil market report from the International Energy Agency, the rich-country energy watchdog. The IEA’s latest x-ray of the oil market includes plenty of disturbing nuggets.
Supply simply can’t keep pace with demand—everybody with an oil well has the taps open, but there’s not much left in the keg. Oil fields are aging quicker than free-agent pitchers, and the global oil industry has to run faster just to stay in place
It is time for Peak Oil, the future that results from it, and plans we can/must take to become a part of everyday discussion. The question is: Will it?
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