The elephant in the room
Peak Oil at its simplest is when demand outstrips supply, think Nintendo Wii, or whatever other toy is in demand at christmas and you wont be far off. Once demand outstrips supply, prices increase at an alarming rate . Oil is more important than a Nintendo Wii though, it supplies almost all our transport energy and is used to grow our food and make our medicines. Without oil we wouldn’t have petrol to put in our cars, no plastic or glues to make them and no tyres either. Energy is often called the “master resource” in economics and oil is the number one energy resource we currently have available, so it’s important we start looking for new and exciting ways to live once it starts to become too expensive.
If you want to delve deeper into peak oil then carry on reading in chapter 2