Peak Oil Theory gains Support

October 9, 2007 · Filed Under Uncategorized 

The theory that oil production will soon peak and then go in to decline at a time of ever rising demand was not taken seriously by many people until recently, even though it should be obvious that a finite resource cannot be extracted in ever larger amounts for ever. For us, who worry about the challenge of feeding a growing and more demanding world population, it is very important as our farming system cannot now function without adequate and reliable supplies of oil and gas.

The following is part of an article from The Buffalo News:

” It seems longer ago than it really was: gasoline prices at the pumps were half what they are now, and oil prices by the barrel were a quarter of the current price. In recent years, politicians and news media have discussed these issues — and yet the prices keep rising. Each time there’s a significant jump, oil company executives give simplistic excuses for the reasons they make $20 billion to $40 billion in profits per year.

“It’s a bad enough situation. But what is rarely discussed is that in less than a decade, the issue will not be the price of gasoline — it will be Read the rest of this entry »

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