A short introduction

Peak Oil means that the global production of oil is reaching its maximum. In this case production means the extraction and refining of oil and the peak is that it will only go downhill from thereon. Oil has been around for millions and millions of years and is what we call a non-renewable resource, in other words, when the oil is gone it's gone.

Combine the fact that the production(supply) is declining with a growing population and the industrial urge from the developing countries and we can draw the conclusion that we are running out of oil.

So what will a shortage of oil mean?

Today we are more dependent on oil than we like to believe. Almost everything that we use in our modern society can be traced back to oil. From the transportation and packaging of our food to plastics in our computers and cars. If the oil get more expensive, everything that is based on oil get more expensive. If we run out of oil, naturally we will also run out of everything that's made of oil.
Oil is a scarce resource and this fact is easily seen in world politics as well, Venezuela is securing their oil by throwing out foreign oil-companies. USA are waging war in Iraq.
Much of what's going on in the world today is about oil.