"Civilization as we know it is coming to an end soon." A pretty hairy analysis comes from this site.
"The peak of oil production is at our door steps. Thereafter the oil production will follows a decreasing trend, and therefore the economic growth. However, our banking system is building on the assumption of continuous growth and honors a lot of 'credits'. Therefore economic collapse is inevitable.
"Since all mining, plantation and transportation are powered by oil; and all alternative / renewable energy source are depended on hi-tech which in turn required a lot of energy when production, all alternative energy source is actually an deriviative of oil, not alternative.
"Say goodbye to econimic growth. Say goodbye to advance technology. Say goodbye to civilization. Be prepared for the upcoming darkage." The site think so.
Critics say the earth actually has a vast among of oil reserve, just that we havn't discovered it. Try 'new oil field' on google and you will find 1 million pages. Oh yes, the world is 70% ocean and we havn't even explore 5% of the sea.
What's the truth? I honestly don't know. But even we have abandon reserve of oil on earth, peak oil will eventually come, thou I may not live long to see it. It's good to look into the problem even if peak oil will be a centuries away.
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