Peak Oil
Point or timeframe at which the maximum global petroleum production rate is reached. This “peak” is a theoretical position which helps predict when humans will begin to replace oil use with other, more sustainable form of energy. Peak Oil moves along a bell shaped curve and preditcs that once “peak” is reached (either because petroleum resouces have been used up or because they are no longer necessary) oil use will begin to decrease. Some people say we have already hit peak production; others say it will happen in the 2030s.
Sources:
-- “Peak Oil,” Wikipedia. http://en.wikipedia.org/wiki/Peak_oil
