Thursday, June 14, 2007

Oil Supply

This article maintains that the worldwide oil supply is diminishing at a rate faster than previously believed. I'm not sure I entirely believe it, but here you have it.

According to "peak oil" theory our consumption of oil will catch, then outstrip our discovery of new reserves and we will begin to deplete known reserves.

Colin Campbell, the head of the depletion centre, said: "It's quite a simple theory and one that any beer drinker understands. The glass starts full and ends empty and the faster you drink it the quicker it's gone."

Sounds pretty simple, huh. A more vexing, and obvious question remains: what to do when we run out of oil?