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By DarwiniqnOne (anonymous) | Posted April 24, 2012 at 12:29:18
Peak oil is the point of absolute maximum oil production. After all, that is what the word "peak" means. If you run out of oil then you produce no oil at all. Therefore the peak in oil production is the exact opposite of "run out" or no oil.
When we are at the peak, oil extraction will decline from that point on. It may take 100 years to "run out". But actually the world will never "run out" of oil. The point will come, long after peak oil, when it is no longer economical to drill for oil.
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