Here’s another in the recent series of “wake up and smell the coffee” peak oil articles coming from national newspapers.
Until recently, opinion on the future of world oil supplies was dominated by two views. One group of experts held that production would decline fairly soon, within a couple of decades at most. Another group argued that the crude would keep flowing for generations, thanks to ever-advancing detection and drilling technologies.
Either way, the scenario was for a gradual and orderly transition to fuels of the future. Now a third perspective is gaining both popular attention and professional respect — the notion that oil’s decline will be sharp and uncontrolled, following a peak that may be more or less at hand.
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