Is peak oil imminent?

Peak oil refers to the time when global oil extraction reaches its maximum. From that point on, oil will become increasingly scarce, and the world will have to adapt to new energy sources.

Implications to Other Questions

Will energy scarcity cause a severe world depression?

Experts and Influencers

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Agree

Experts In Law

Matt Savinar Lawyer

Agree

Civilization as we know it is coming to an end soon. This is not the wacky proclamation of a doomsday cult, apocalypse bible prophecy sect, or conspiracy theory society. Rather, it is the scientific conclusion of the best paid, most widely-respected geologists, physicists, bankers, and investors in the world. These are rational, professional, conservative individuals who are absolutely terrified by a phenomenon known as global "Peak Oil."

The Crisis Pitch

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01 Jan 2008 Source

Experts In Energy

International Energy Agency (IAE)

Mostly Agree

As far as I know this will be the first profound public study in which we verify and revise our knowledge about how much oil and gas is going to the markets. ... There is a gap between the global demand for oil and the amount which is or can be brought to the market from that region. We think that the oil producers have to increase their production output significantly, but we are not sure that they will do it or even can do it. ... I think we are entering a new world oil order.

The Admirable Admission Pitch

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02 May 2008 Source

Disagree

Experts In Economics

The Economist Politics and Business Magazine

Disagree

[In] the words of Exxon Mobil, the oil production peak is unlikely “for decades to come”. Governments may decide to shift away from petroleum because of its nasty geopolitics or its contribution to global warming. But it is wrong to imagine the world's addiction to oil will end soon, as a result of genuine scarcity. As Western oil companies seek to cope with being locked out of the Middle East, the new era of manufactured fuel will further delay the onset of peak production.

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20 Apr 2006 Source

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0 Points the27th 09 May 2010 Stance on Question: Mostly Disagree

When oil becomes scarce, the price will rise. We won't run out of oil; it will become expensive enough that we're forced to conserve and use alternatives.