Quote:
Originally Posted by zipping
So you agree with me 
BTW peak oil is when consumption rate is greater than the maximum extraction rate. so far all predictions have proved wrong. |
I dont think it means when consumption is greater than max. extraction rate. If you look at it logically, how can you ever consume more of something than you have? Peak oil has more to do with when the maximum production has been reached. If you only count normal (crude) oil production (drill a hole in ground, and wait for oil to pop up), then most experts agree that peak oil happened in about 2005. Oil production has increased since then, but its happened due to shale oils (which alot cant be used in transport fuels), oil sands, biofuels etc etc.