Are we running out of oil? Not any day soon, but a big controversy exists about the manner in which supplies will tighten and prices will rise in the future. Certainly, we are running out of cheap oil and a place to store the emissions from its profligate use.rn"Peak oil" is the notion that world oil production will soon reach a pinnacle and will begin to decline within the next decade or so, inflicting serious damage to our global economy, possibly creating a depression and undermining geopolitical stability. The Association for the Study of Peak Oil hosted the 2007 Houston World Oil Conference on October 17-20 to discuss the timing of various peak-oil scenarios, the expected dramatic rise in oil and gas prices, and where smart money should be invested to mitigate the effects of (and to profit from) the peak-oil phenomenon.
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