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Peak Oil..
October 31, 2008 by Anonymous, 1 year 1 week ago
Comment id: 32645
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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. The concept is based on the observed production rates of individual oil wells, and the combined production rate of a field of related oil wells. The aggregate production rate from an oil field over time appears to grow exponentially until the rate peaks and then declines, sometimes rapidly, until the field is depleted. It is important to note that peak oil is not about running out of oil, but the peaking and subsequent decline of the production rate of oil.
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