Peak Oil: Association for the Study of Peak Oil & Gas - USA - Peak Oil: “It’s the Flows, Stupid!”
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Peak oil is about peak flow. It’s that simple, despite all those lame statements (some from people who ought to know better) that “we aren’t running out.” That’s right, we aren't, but who said we were!
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Peak oil describes the maximum flow rate of oil from a well, an off-shore platform, a field, a basin, or a geographic area—state, nation, continent, and eventually the world. Webster’s defines “peak” as “the highest or most important point.” ......
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All-too-often when someone criticises the concept of "peak oil" they say that we are not running out of oil, so peak oil is false. In fact, we are not running out of oil, but that is not the point. It is not how much oil is in the ground but rather how much oil is being produced; i.e. the rate of flow. Peak oil simply means that the total global rate of flow (production) is approaching - or already has passed - a maximum rate of flow and will never again surpass that point. Total production may decline slowly or steeply depending on many factors. That is the future we face. The real question is, how will we deal with a world where there is less and less oil produced?
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