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Why Look Beyond Oil?
The supply of oil in the ground is not infinite. Someday, annual world crude oil production has to reach a peak and start to decline. It is my opinion that the peak will occur in late 2005 or in the first few months of 2006. I nominate Thanksgiving Day, November 24, 2005, as World Oil Peak Day. There is a reason for selecting Thanksgiving. We can pause and give thanks for the years from 1901 to 2005 when abundant oil and natural gas fueled enormous changes in our society. At the same time, we have to face up to reality: World oil production is going to decline,