Page added on February 22, 2014 Peak oil is the ever approaching, if not already passed point in which the world’s crude oil production rate reaches its maximum output, and then falls into decline. 86 million barrels of crude oil are produced everyday, however as a planet, we are using around 88 million barrels a day (Transition Culture 2007), showing an uneven consumption rate which will aid the decline of available oil. The International Energy Agency stated that there could be as much as 20,000 billion barrels (Transition Culture 2007) of oil under the planet’s surface but that much of it will remain undiscovered. Additionally, a considerable percentage of oil has been found under protected sites such as reindeer sanctuaries in Alaska and the newly found oil in the Arctic; the question is whether the value of this oil is worth the destruction of these ecosystems and environments as […]