DECLINING DISCOVERY TRENDS
The main piece of evidence used by the peak oil theorists is based on the work of geologist M. King Hubbert who, in 1956,
predicted that US oil production would peak in 1971. It actually peaked in 1970. His work was based on the fact that oil discovery
in the US peaked around 1930, he extrapolated a production peak from this discovery trend. World oil discovery peaked
in 1965 and from this ASPO project that oil production will peak around 2010.

THE WONDERS OF TECHNOLOGY
Those in OPEC, the oil companies and the US EIA say that new technologies which allow more oil to be discovered such as
3D seismic and offshore exploration and technologies that allow more oil to be recovered from existing fields such as
horizontal drilling and enhanced oil recovery will push the date of peak oil far into the future. The peak oil theorists disagree
pointing to the fact that these technologies have not been able to offset declines in the US and other post peak countries.

THE IMPACTS
For every calorie of food we consume we use 10 calories of energy to produce and transport that food. This is why global food prices
have shot up as oil prices have risen over the last few years. Oil is intrinsic to everything in the global economy and as oil prices rise the impacts
on inflation may cause a global recession or depression as well as possible widespread hunger. These impacts are being seen already.

THE SOLUTIONS
There is no magic bullet to solve peak oil. The problem is that we just will not be able to get enough liquid fuels to meet demand.
This is probably even true if a 'crash' programme of making fuel from coal and tar sands is implemented. In the long term,
shifting transport towards electricity and a more mass transit system is the only viable solution at the moment. However, it is unlikely
that we can do this before some of the worse impacts of peak oil hit, the costs and technological barriers associated with
a move to electric vehicles are just too high in the short term.

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