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Oil Expert To Address Theory That Peak Oil Has Arrived

Princeton University emeritus professor and renowned oil analyst Ken Deffeyes thinks that the all-time production peak for petroleum, or "peak oil," will occur on or around this Thanksgiving.

The peak oil theory predicts that the world's oil production output, like any nonrenewable resource, will eventually reach an all-time high and afterward gradually decline. Although it will be impossible to tell precisely when the peak occurs until it has already occurred and the world is in a definite production decrease, many experts are already predicting that the moment will happen in a few short years.

Deffeyes is one of the more pessimistic of the prognosticators. If he is correct, the global oil peak will just have occurred when he presents his Caltech lecture on December 1. Afterward, the commodity will become more and more scarce--and therefore more and more expensive and hard to obtain. The end result will be massive economic and social disruptions in a 21st-century world that has fueled itself for decades with cheap and plentiful energy. (Physorg.com)


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