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===Are we running out of oil?=== |
===Are we running out of oil?=== |
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− | [[File:Oil_Production_Gap.jpg|thumb|left]] |
+ | [[File:Oil_Production_Gap.jpg|thumb|left]]The International Energy Agency (IEA) estimates that the decline in oil production in existing fields is running at 6.7 per cent a year. According to an August 2009 report by the IEA, even if demand remained steady, the world would have to find the equivalent of four Saudi Arabias to maintain production, and six Saudi Arabias if it is to keep up with the expected increase in demand between now and 2030. |
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===What is meant by 'Peak Oil'?=== |
===What is meant by 'Peak Oil'?=== |