Discussion about Peak Oil heightened in the past decade as many proponents reckoned that the supply of fossil fuels is now being overtaken by use. The oil industry decries the claim suggesting that Peak Oil won’t happen for a couple more decades.
In fact, as with the cover-up over the health risk of smoking, the oil industry also knows that Peak Oil has occurred and is covering up their view to serve their own self interest. There is a small risk of panic buying and price volatility, but we have seen that anyway. What is needed is for official admission of Peak Oil so that governments, industry and consumers can focus more diligently on changing behaviour, weaning humanity from an addiction to oil and investing more in alternative systems.
Global Witness: Heads in the Sand: Governments Ignore the Oil Supply Crunch and Threaten the Climate (or high resolution version)
Guardian: Key oil figures were distorted by US pressure, says whistleblower
UK Industry Task-Force on Peak Oil and Energy Security: The Oil Crunch – a wake-up call for the UK economy
The Ecologist: Face up to natural limits, or face a 1970s-style energy crisis
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