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Can someone tell me exactly what this is? I looked it up on the web, but all I got was some explainations that totally flew over my head. How would you say it in laymans terms? Thanks!

In a nutshell, it is when the production of oil can no longer meet the needs of the people.

Everything works off of the basic principals of supply and demand right? So at this point we are so scientifically advanced that we are draining wells in 9 months that ones took 9 years. So at some point in the near future we will reach peak production just as we meet the halfway mark of total oil available (which is where production typically starts to slide downhill.

At that point the demand will continue to grow (exponential population growth) but the supply will not be able to meet the demand and therefore cause a ressesion and eventially a market crash.

This image might help you understand it better:

Hope that helps,

Adam

Yeah! As far as i know is a theory some guy developped! It might be right considering that things regenerate slower than you consume them.
if this is true, i guess when we won;t have anything to do we will get back to the candle and to more green loving ways to survive. too bad it will be a bit late. The effects are already showing their fangs!

[quote author=“gianni”]Yeah! As far as i know is a theory some guy developped! It might be right considering that things regenerate slower than you consume them.
if this is true, i guess when we won;t have anything to do we will get back to the candle and to more green loving ways to survive. too bad it will be a bit late. The effects are already showing their fangs!

When I think about it I find it very bad but you know what? I think mankind deserves this thing because they are so irresponsible. Nobody wants to do anything, let’s see all the people who are driving a lot, consume water and car companies how they will feel when they will turn back to the candle.
You can show them all everything you want and all the stuff that can happen to the planet, they simply don’t listen; they only care about money and sales.

I’m skeptical as to whether or not we will reach a recession as quickly as this “model” suggests, though I am in no doubt it will happen and in the forseeable future.

From a general energy point of view, I strongly suspect we will see much more funding put into the development of nuclear power plants and reneweable energy sources, particularly over the next few years.

A few decades ago it was predicted that we would have run out of some fossil fuels by now - I think that advanced mining and refining techniques will carry us forward for a few decades yet, though you cannot help but feel that time is running out.

Great explanation Adam, thanks for that.

I actually agree with you, this particular graph does put the process hapening a little too quickly.

Experts are saying differnt things:
Experts who work for oil companies are saying we will reach peak in 30 years.
Experts who are not getting money from oil companies say its more like 15-20 years.
And the extremest doomsday experts are saying that we are already in it or it will happen in the next 5 years.

I personally tend to gravitate towards the middle ~18 years to hit peak, but then again this is not taking into consideration the exponentially growing population.

Nor is this taking into account the politics behind it-something that can never truly be predicted. America is in a terrible state, with every single person in every single household wanting to own and drive a big, petrol guzzling car.

It is no wonder that the government refuses to take a stand on global warming-they have a huge deal to lose if they do.

I think that either way it is a very scary thought. There is no way that people can continue denying the fact that oil is a finite resource, and so consideration should be given to conserving it. Yet so few care. There is only one possible outcome, and it makes me want a house that is completely off the grid.

I agree either way this thought is very scary.  I understand we are trying to find alternative fuels but is it a serious effort or just half hearted effort to show that something is in process.  We are smart people we should have this figured out by now.  How about we stop making new cars for a few years would that help?

Yea I highly doubt that will happen, cars are considered a nesesity now and I dont see them going anywhere.

I think the main thing we need to do is to concentrate on creating clean energy systems in the states. The US uses the most oil and if we can curb that usage by using wind, solar, hydro, etc for our electrical needs and make a move to alternative fuels for cars we will be doing well.