Did you know that Saudi Arabia has the worlds most oil? Well now you do, it has 25% of the worlds oil. Oil is the 2nd most traded product between countries. Eventually, that oil supply is going to run out, just like bronze and iron. King Hubbert introduced the concept of oil production peak. His observation was that the flow of protroleum from any oil feilds climbs up to a peak and declines just as quickly. His prediction was that the oil pumped the United States feilds would peak around 1970- and it did. Using his formula, worlds oil productions will peak around 2030.
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January 26, 2007 at 5:51 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed.
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