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
Peak Oil and the Evolving Strategies of Oil Importing and Exporting Countries
Publication date:
2007-12-01
First published in:
OECD International Transport Forum
Abstract:
Statistical trends of oil intensity from individual countries and groups of countries show that an average increase of GDP of 3% per annum equates to a projected demand for liquids by 101 Million barrels per day (Mbpd) by the year of 2030. This analysis shows that this demand cannot be fulfilled by production from current reserves and expected new discoveries.
Full report available from:
http://www.internationaltransportforum.org/jtrc/DiscussionPapers/DiscussionPaper17.pdf
