Peak Oil is Not About Running Out

This little video tries to reinforce the point that peak oil is not about "running out" of oil. It is about the production rate of oil not being able to match the demand ... people want to use more oil per day than can be produced in a day. Many people consider global oil supply to be like the gasoline in their cars. In your car, you drive along and there are no fuel problems until the tank runs dry. That is because the rate at which your engine can draw gas from the tank is constant ... it does not go down as the tank is used up.

But in the world of oil production, as the easy to discover and extract oil is used up, it must be replaced with difficult to get oil. So as the world supply of oil is used up, the rate at which we can get it also drops. Thus problems with oil supply show up long before the oil runs oil.