Peak Oil Essay Example | Topics and Well Written Essays - 1250 words

Peak Oil - Essay ExampleThis essay declares that bakshis cover is a state in which the maximum oil doing is recorded. After peak oil, the production may start to decline which is not a good sign for every the oil producers or the users. Global parsimony is heavily dependent on oil prices. Automobiles are essential for the transportation of goods to declare a balance between the supply and demand. Supply and demand determines the economical growth of the global community. Substitutes for oil must(prenominal) be researched and developed without any time delay. At the same time new technologies must be developed in order to utilize the distant offshore oil resources economically, which are valuable at present because of lack of feasible technologies to utilize it. Oil is the blood of global economy. As our body or life cannot survive without blood, the global economy also cannot survive without oil or pick energy sources.This paper makes a conclusion that peak oil is not a goo d scenario either of the oil producing countries or others. Though peak oil may bring temporary benefits to the oil producing countries, their economy will be suffered in the long run. For example, most of the Gulf countries are depending oil revenue for their economic growth. These countries dont have much other resources and the oil resource exhausting may not be a good sign for them. Even though, most of the global community are nauseous about the future of the world because of the exhausting oil resources, environmentalists consider the peak oil situation as a blessing to the human population.