- Peak Oil
1. Oil is a finite resource on a human time scale, unimpeded extraction of which typically follows a bell-shaped curve, with maximum flow near the middle followed by terminal decline. The "peak" is the point in time of highest flow and supply availability, with shrinking supplies thereafter. "Peak Oil" does not mean no oil, it means less oil.
2. Discovery of new conventional oil fields peaked 40 years ago and very large fields earlier still.
3. Easily discovered and extracted oil has been depleted first, leaving the difficult and expensive oil for last.
Energy Return On Energy Invested
4. Increasing energy expended in finding, developing, extracting and refining oil reduces the 'net energy' available for work.
Export Land Model
5. As oil production declines and oil exporting nations become wealthier, they consume more oil internally, thus reducing their oil exports.
The Consequences of Cheap and Expensive Oil
6. A tightening oil supply causes oil prices to increase, making once unprofitable oil profitable, however,
7. Increasing oil prices can decrease oil demand by reducing the amount of oil consumers can afford to purchase and/or
8. Increasing oil prices can reduce consumption in other categories, depressing the world economy.
9. Scaling up substitutes for oil (i.e., electric cars), will take considerable time, and only after the need is recognized.
10. Significant amounts of national oil company data are unavailable, obscuring the true situation.
If you have a fact you think is more basic or an argument with one of these feel free to post.