New Scientist: PEOPLE have fretted about when the world's oil will start to run out ever since M. King Hubbert came up with the idea of "peak oil" back in the 1950s. The American geologist, who worked for Shell, pointed out that we are destined to reach a moment when oil production stops rising and goes into terminal decline. With it, the era of cheap oil that fuelled the post-war economic boom would end. The idea still provokes great debate, and many forecasters are predicting that global production will peak...
URL: http://www.newscientist.com/article/mg21428651.700-dump-the-pump-when-oil-will-lose-its-lustre.html?full=true
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