In one sense, the analysts who forecast that "peak oil""”i.e., the point at which the rate of global petroleum extraction will begin to decline"”would be reached over the last few years were correct. The planet is running short of the easy stuff, where you stick a drill in the ground and crude comes bubbling to the surface. The great oil fields of Saudi Arabia and Mexico have begun to dwindle; one result has been a rising price for energy.Â
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