The belief that the peak level of oil production has been reached. Also, that the declining reserves will not be able to meet the ever-increasing consumption. April 2005 China surpassed Japan as the second largest world consumer (behind the U.S. of course). Per barrel prices top $75.
See Also
External Links
- http://www.postcarbon.org/groups - Post Carbon Institute
- http://www.LifeAfterTheOilCrash.net/ - Life After the Oil Crash