Is Peak Oil Theory Really Something We Should Be Worrying About-steam_api.dll

Investing Peak oil is defined as the maximum level of global petroleum production, and some analysts expect that we will be nearing this level within the next decade. As even more reserves are uncovered using more advanced technology and partnerships, the global supply of total oil reserves is declining based upon growing demand for oil. The reduction of total global reserves is anticipated to have strong economic and geopolitical effects, as demand for finite oil will intensify regional .petition, accelerating development of alternatives as well as causing conflicts between public and private oil .panies over a finite natural resource supply. Early models of oil production anticipated that Peak Oil would be reached decades ago, while improved exploration and extraction technology continued to expand overall global reserves. Economists anticipate that growing global demand will eventually reduce net global supply, leading to depletion of strategic reserves and an increase in overall oil prices. The growth of oil demand globally reflects the increase in domestic demand in developing economies. While the United States and Europe were the primary consumers of oil in the last century, expanding Asian nations have doubled demand for oil across their population, putting pressure on oil prices on a global scale. Both domestic industry and consumers have increased their demand for oil even as international supply levels have only slightly increased, creating a dynamic that puts pressure on global oil markets. On the supply side of the equation, the opportunity for developing new oil sites is much more limited than it has been in the past. While oil .panies continue to develop new projects, the vast majority of prime extraction opportunities have already been undertaken. The result is that oil supply development cannot keep up with increased global demand, putting pressure on firms and consumers as oil prices rise and aggressive geopolitical policies reflect the need for an increasingly finite natural resource. About the Author: Each month in STAT, our charts and .mentary reflect on the previous month. For example, a December STAT issue will have Novembers numbers. This month our .mentary will focus on year 2015 in review. 相关的主题文章: