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Gold/Mining/Energy : Peak Oil - Not If but When
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From: veritas50112/3/2009 12:00:37 PM
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What people don't generally understand is how dependent the world is on fossil fuels for agriculture. Diesel, for example, is the enabler of modern agriculture. Without diesel, the agricultural abundance around us wouldn't be possible. A good article on this subject is at energybulletin.net

Sometimes when discussing this subject you'll hear people say, "Drill, Drill, Drill." But when oil fields have past their peak in production, more drilling doesn't do anything for you. The US production of oil peaked in 1970 and has been declining ever since. In response to the high prices for oil that occurred in the 1970s, the oil industry went on a drilling binge for almost a decade. Yet, despite all that drilling, the decline of US production wasn't halted. See the graph showing this at theoildrum.com
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