The depletion aspect pertaining to the eventual period in which there will be a significant fall in both oil/fossil fuel supplies, because of dwindling reserves.
From the aforementioned case scenario, various observers are of the idea that what will follow such a period, will be of great negative global implications. This is predicted to be during and especially after the expected post-peak production period, as oil prices will ultimately increase significantly. This is informed by the fact that there is a high global dependence on fossil fuels, as a means of energy production vital in many core sectors of the global industry (Deffeyes, 2002:14, 17). From the agricultural sector to others such as industrial and transportation systems, oil dependency has been fundamentally influenced by the cheap cost, as well as the high availability of this fossil fuel. Estimations, on an optimistic note, forecast that the global society is already at the peak production period, after which a global decline is expected.
This is projected to commence after the year 2020. Assumptions are also made that such a decline is expected to be offset by the rapid and heavy investment in alternative forms of energy production i.e. wind, solar, geo-thermal and even nuclear. Pundits are of the opinion that in order to avoid a future catastrophic crisis, there is a need for major public-private initiatives in such alternative forms of energy production. This is to be matched equally with enhanced invention and production of machinery and equipment, which will utilize such forms of energy, as opposed to exhaustible fossil fuels. Such inventions, augmented by the enhanced production of alternative energy, need to be significant enough so as not to require major changes globally (Greer, 2013:24).
This is with respect to the prevailing lifestyle of nations, which are heavily depended on oil consumption. In such a case scenario, the&nbsp.existing models of such assumptions display the gradual escalation of oil prices.&nbsp.

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