Oil is the world’s single most important commodity. It’s a finite resource and it’s coming to an end. “Peak Oil” is a term that refers to a time when maximum global petroleum supply is reached. Right now our species is faced with the depletion of the core resource central to our current system of survival.
85 million barrels used each day (44% – gasoline; 21% – asphalt, plastics, pesticides, machinery, styrofoam, fertilizers, cosmetics, clothing etc.; 35 – other fuels)
Who’s using it all?
- United States – 20.5 million bbls/day
- China – 7.5 million bbls/day
- Japan – 5.0 million bbls/day
- Russia – 2.8 million bbls/day
- India – 2.7 million bbls/day
- Germany – 2.4 million bbls/day
World oil production will peak before 2020.
– Oil exports in barrels per day