what is "peak oil"?

  1. dabeaner profile image56
    dabeanerposted 8 years ago

    what is "peak oil"?

  2. mthurston profile image77
    mthurstonposted 8 years ago

    Peak oil is an abstract term used to predict oil cycles.  The point at which peak oil is met can refer to either the world oil supply, or the oil supply of a nation, or the oil supply of a region. 

    I think the peak is hit as soon as half of all supply has been extracted, which means the level where oil supplies start to slowly decline. 

    After peak oil, one would suspect that prices raise and supply diminishes.