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."
The Rimini Protocol: an oil depletion protocol
First published in:
The Rimini Protocol an oil depletion protocol: Heading off economic chaos and political conflict during the second half of the age of oil.
Knowledge of petroleum geology defines the size of the World's oil and gas resources, but the reporting of reserves is grossly unreliable. Discovery has been in decline for many years, meaning that production must soon also fall. The decline of oil will have a severe impact on the modern economy which has become dependent on it. Accordingly, a Protocol to match demand against the falling supply, as imposed by Nature, is urgently needed to lessen world tensions and achieve an orderly transition.
Published in: Energy Policy, Volume 34, Issue 12, August 2006, Pages 1319-1325