Peak Oil Day

We are now approaching the first-year anniversary of Peak Oil Day. Where are we now? The global economy is in tatters, yet oil prices have recovered somewhat (they’re now about half what they were in July 2008). World energy consumption is down, world trade is down, the airline industry is shrinking, and most of the world’s automakers are on life support.

The peak oil debate

The debate about when the world will reach peak oil production is not a new one. But recently, as the price of crude oil has been unusually volatile, the issue of peak production has received heightened attention in the media, and the tone has changed in the discussions among oil industry and energy watchdogs about the future of global oil supply.