Why we still don’t know when ‘peak oil’ will hit

We’ve been hearing for years now that oil supplies are on the verge of running out.

Actually, let’s be a bit more specific: we’ve been hearing for years now that US oil supplies are on the verge of running out, along with those of several other key global economies in the West (including the UK). But how much of the bigger picture are these dire predictions really giving us, and why are they seldom any more specific?

Well, in any brief overview, the first point of note should be this: it’s nigh-on impossible to predict with any degree of certainty how long …read more