What is Peak oil?
"The term Peak Oil refers to the maximum rate of the production of oil in any area under consideration, recognising that it is a finite natural resource, subject to depletion."
--Colin Campbell
EU energy chief: Worldwide oil availability has peaked
Submitted by Mikael Höök on Tue, 2010-11-16 18:54.
The availability of oil worldwide has already peaked, the European Union's energy chief Guenther Oettinger said on Wednesday.
"My fear is that the global consumption of oil is going to increase, but European oil consumption has already reached its peak. The amount of oil available globally, I think, has already peaked," Oettinger told a news briefing in Brussels.
He was presenting a new EU energy strategy for investing 1 trillion euros over the next decade in a common EU energy network, to curb the bloc's dependence on fossil fuel imports.
Source: http://www.reuters.com/article/idUSBRU01112520101110
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