A Midwinter Night’s Mare

We use oil because it is by far the cheapest and most convenient form of stored energy many times over… and production is peaking while consumption climbs.

The consensus among those in the Petrology Community is that global oil production will peak within five years or so, maybe less, while world oil consumption, fueled largely by the insatiable US addiction and the burgeoning economies in Asia-India, continues to grow steadily. Production Vs consumption. Those lines will cross next year. What happens then?

brentrasmussen