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
Oil: what goes down must go up?
Publication date:
2009-01-28
First published in:
Petroleum World
Abstract:
About 60 miles west of Cleveland, Cedar Point is world-renowned for its scary roller-coasters. However, Cedar Point has nothing on the oil markets.
At the turn of 2007 / 2008, oil was at the cusp of $100/ barrel -- a price that was considered a kind of mythical barrier, due to its three-digit numerology. Well, it took just a day or two into 2008 to broach that level, and by July, oil was approaching $150/barrel -- an increase of 50% in 6 months, and fully 6 times the levels that prevailed just 5 years previously in 2003...Published in: Petroleumworld News 28 January 2009
Available from: Petroleum World
