"It’s a bit hard to believe that in 2012 anyone is still unclear about what “peak oil” means, but enough confusion about it has surfaced in the past week that I feel compelled to, once again, try to set the record straight.
“Peak oil” refers to the maximum rate of production of regular crude oil. Period. It’s a number.
It is not a theory.
It does not mean “running out of oil.”...........................
