Transition Bath
The energy issue driving the Transition Movement
"Peak Oil" is the term used to describe the situation when the amount of oil that can be extracted from the earth in a given year begins to decline, because geological limitations are reached. It's not the point of running out entirely, but when extracting oil becomes more and more difficult, so that costs escalate and the amount of oil produced begins to decline.
In the US and North Sea, oil production grew steadily until about 50% of all reserves
had been extracted, then they fell: well pressures dropped and oil became uneconomic
to drill. Now oil production is declining, apparently for geological reasons, in
the majority of oil-
In a situation where demand for energy keeps growing and supply stalls and then declines,
prices will inevitably increase. Oil is a convenient, transportable and very energy-
There's a summary of Peak Oil facts and figures by industry publication The Oil Drum here and a Transition Network article on the subject here.
"It's no secret anymore that for every nine barrels of oil we consume, we are only discovering one." The BP Statistical Review of World Energy
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