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Introduction

  • C. J. Campbell
Chapter

Abstract

Soaring oil prices, which surged to $147 a barrel in mid-2008, have drawn attention to the issue of supply and demand, suggesting that the present production capacity limits are being breached. It leads people to ask if we are running out of oil. The simple answer is: Yes, we started doing that when we used the first gallon.But the world is a long way from finally running out. What it does face, however, is the end of the First Half of the Age of Oil, which lasted 150 years, giving rise to extraordinary changes in the way people lived.

Keywords

Saudi Arabia Middle East OPEC Country Great Technological Progress Massive Volcanic Eruption 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Colin J. Campbell and Alexander Wöstmann 2013

Authors and Affiliations

  • C. J. Campbell
    • 1
  1. 1.BallydehobIreland

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