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When oil runs short the price will skyrocket. Oil is a very important commodity in our economy. The higher the price rises the slower our economy will grow. At some point the economy will shrink.
Capitalism does not work on a shrinking economy. Global meltdown will be the consequence - unless we find a replacement for oil by that time.
What else can I help you with?
Has the US reached its oil peak?
It is debated among experts whether the US has reached its oil peak. Some argue that advancements in technology have unlocked new reserves, while others believe that production has plateaued. The US Energy Information Administration has reported fluctuations in US oil production in recent years.
Who makes peak oil?
PEAK makes peak motor oil, they are known for their antifreeze products before they launched their motor oil line. It's apparently already sponsored the IndyCar when it was first launched in 2007, and is being called "premium motor oil".
Who makes peak motor oil?
PEAK makes peak motor oil, they are known for their antifreeze products before they launched their motor oil line. It's apparently already sponsored the IndyCar when it was first launched in 2007, and is being called "premium motor oil".
What is the theory of peak oil?
The definition of peak oil, depending on who you ask, is slightly different; some say it is the last point when our demand for fossil fuels is met by oil production, while others define it as the time when maximum global oil production is reached, and declines hereafter. Regardless of semantics, the theory of peak oil basically states that at our current, rapidly expanding rate of oil consumption, we will reach a point in time when oil production will no longer meet our needs. Those who believe in peak oil theory will state that, either we are approaching peak oil (in the next 10, 15, or 20 years), or we are already at the point of peak oil. After the point of peak oil, because supply is not meeting demand, there will be accelerated hikes in gas prices (and since most food and product manufacturing requires oil), there will be hyperinflation in the economy.
Is 250 on peak flow meter good or bad for an adult?
bad
When is the Peak Crude Oil predicted by majority of economists?
After hundreds of hours reading, it would seem that we have likely already had the peak in production of oil in 2006
When are the world's peak oil-producing years projected to be?
The world's peak oil-producing years are projected to be coming in the years 2020-2030, or earlier.
When did urban centralization reach its peak in the US?
Urban centralization reached its peak in the US in 1900
Where is the mountain Peak 7601?
Peak 7601 is in Alaska, US.
What is the highest point is the us?
Pikes Peak in Colorado is the highest peak in the continental US, and Mount McKinley is the highest peak when Hawaii and Alaska are included.
What is the tallest peak in CA?
Mount Whitney The highest peak in the continental US
Are there any solutions to Mexico peak oil?
the up and down
