Peak Oil

Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. The concept is based on the observed production rates of individual oil wells, and the combined production rate of a field of related oil wells. The aggregate production rate from an oil field over time usually grows exponentially until the rate peaks and then declines—sometimes rapidly—until the field is depleted.
There are many ways to transport oil. One of the most ways that people use is big trailers. If oil transporting from one country to another very often, people build long tunnel to transport oil very fast on big distance with less money spend. However there is other problem, how to transport oil from one country to another especially is between them there is a sea or ocean, which was solved easily. People decided to use big ships and one of those ship companies is PRISCO.











As we all know oil is very useful part of our life. Every day people use most of the transport which works on petrol and different kind of oil. Entities such as governments or cartels can reduce supply to the world market by limiting access to the supply through nationalizing oil, cutting back on production, limiting drilling rights, imposing taxes, etc. International sanctions, corruption, and military conflicts can also reduce supply. Overall, oil provides about 1/3 of the world's energy usage, most of it for use in transportation. Other forms of energy provide for our electricity needs such as coal, natural gas, nuclear and renewable such as wind, solar and hydroelectric power. Those forms of energy, as not really suitable, as a replacement for oil, as most oil is used in transportation and for manufacturing materials such, as plastic and asphalt.

Very few commodities have become as vital as petroleum since it can be used as a source of energy as well as a raw material in the manufacturing of plastics and fertilizers. As a commodity of strategic importance, petroleum has for long been the object of geopolitical confrontations. Several contemporary geopolitical events were closely related to oil or had consequences on oil supply and prices.

Peak Oil is thought to occur when roughly half of the world's oil reserves have been used up. All oil fields peak and then decline by their very nature and the concept of global Peak Oil is simply the extrapolation of this idea to the sum of all known oil fields. Peak Oil is thought to be imminent because there have been fewer 'super giant' oil field discoveries in recent years to put any potential peak in production further into the future. Usable oil will not run out in the near future but prices will rise as global demand continues to increase (at about 2% per year) and attempts to outstrip a stagnating (or peaking) supply. The actual date that Peak Oil occurs is not as important as the fact that global oil output will probably fall short of demand.

Of course, oil supplies may be constrained not just by geological factors but for other reasons as well including geopolitical instability (e.g. conflict, political manipulation / unrest), a physical shortage of rigs, a deteriorating oil infrastructure, lack of investment and a rapidly aging oil industry workforce.

Oil will not just "run out" because all oil production follows a bell curve. This is true whether we're talking about an individual field, a country, or on the planet as a whole. It is estimated that the world may have enough oil to year 2030 at current consumption, and enough natural gas to year 2060 if all known reserves were recoverable. Life will not continue as is until every last drop is gone. There continues to be small amounts of oil suspected as reserves around the world, but not in the quantities that will alter the clear shortages and competition for it. It is very unlikely that a child born after 2005 will ever need a driver license, and it is very likely that before 2020 many people around the world will be living without the benefits of oil and will lose the use of natural gas at the same time.