We came across this short article at Smithsonian magazine’s science blog about Peak Oil, and realized it is a very good example of how mainstream these issues are.
Richard agreed that Smithsonian takes a very clear, well-balanced look at just what Peak Oil means.
…Geologist M. King Hubbert developed the concept of peak oil back in the 1950s, and he later predicted that it would occur around 1995 to 2000 (he wasn’t expecting the energy crisis in the 1970s, when production dipped). Peak oil forecasts have varied wildly, with some experts arguing that it won’t be a problem anytime soon and others predicting the peak within a decade. This is the trouble with predicting the future. You won’t see peak oil until it has passed.
Well, last week, the International Energy Agency, which only two years ago was predicting a slow and steady increase in oil production, said that the peak has passed, and that oil production topped out in 2006 (Hubbert got it pretty close, apparently). The decline will be gradual, at least, they say, with production plateauing for a decade or two, but there are complicating factors, like increased demand from China….