Diminishing oil resources
- Scarcity of oil resources
- Peak oil
Nature
Global production of oil from conventional sources is likely to peak and decline permanently during the first decade of the twenty first century.
Claim
At the current rate of consumption, within the lifetime of a child born today, virtually all of the known petroleum sources on the earth will be consumed.
Forecasts about the abundance of oil are usually warped by inconsistent definitions of "reserves." In truth, every year for the past two decades of the twentieth century the industry has pumped more oil than it has discovered, and production will soon be unable to keep up with rising demand.
Broader
Aggravated by
Strategy
Value
SDG
