5 Industries Worried About Peak Oil

August 13, 2014 at 10:01 am Leave a comment

The debate over the impact of peak oil has been raging for decades. Although few deny that the end of mass oil consumption is drawing nearer, educated estimates now range between 2020 and 2030.But more important than the timeframe of peak oil are its consequences. Some seek to spell the end of life as we know it, so reliant is the world upon black gold. Others, equally extreme in their views, embrace the news, looking forward to a time when humanity will magically clean up its act.

The truth is somewhere in the middle. Clean energy sources are making major advances as they become cheaper and easier to implement while almost all OEMs have launched lavish research programs into vehicles powered by other means. But the consequences of peak oil are not to be underestimated. Society would undergo a difficult time, given the sheer spread of oil on our culture. Doomsday predictions of civilization having to survive without electricity, or planes being grounded are one thing, but petroleum is a heavy component of many more industries than that.

Read more HERE.

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Entry filed under: Business, Energy, Peak_Oil.

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