Peak Oil

Learn about Peak Oil with iMinds Money's insightful fast knowledge series. 

Oil is put to use every day in vehicles, plains, agriculture and many other ways. Developed nations have been built on oil and are still very much reliant on this finite commodity. The vast changes to life brought about by the Industrial Revolution depended on oil as a power source. It is not unexpected then that many people find it difficult to admit the world is changing. Cheap energy may not be available indefinitely and this will prove damaging to world economies.

There a two major concerns with oil consumption. First, there is its impact in the form of global warming and the need to find environmentally sustainable alternative energies. Secondly, there is the concern of cheap oil reaching a peak and eventually running out completely.

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