“Peak Oil” is the theory that the world is running out of “fossil fuels” whose depletion will turn society on its head. However, there still exist dual theories on the origin of oil, neither of which can yet be fully proven. It is of great importance to weigh both theories and their implications. Special interests, hidden agendas and policy are at stake which could have dire consequences for governments, private interests and individuals if decisions are made based on faulty intelligence.
There also exists the third argument that it is irrelevant whether oil is a “fossil fuel” or “abiotic”, we simply are pumping much faster than the oil wells can renew themselves. This argument tends to be made by “fossil fuel” theorists and those heavily invested in the environmental movement.
“Peak Oil” theory suggests that the world has reached its zenith in terms of extraction and level of oil consumption.'
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