Peak Oil Theory

Peak Oil Theory posits that there is a point in time when global oil production reaches its maximum rate, after which it will inevitably decline. This occurs because oil is a finite resource; as extraction continues, there’s a limit to how much can be recovered efficiently. Once production peaks, supply begins to diminish, potentially leading to higher prices and energy shortages. The theory emphasizes the importance of transitioning to alternative energy sources before the peak impacts economies and daily life significantly. It’s a way of understanding the lifespan of accessible oil reserves and planning for sustainable energy future.