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It usually refers to the shortage of oil and additionally to electricity or other natural resources. An energy crisis may be referred to as an oil crisis, petroleum crisis, energy shortage, electricity shortage or
electricity crisis.As we live in the age of oil, but it is drawing to a close.The worldsâ most widely-respected geologists, physicists, bankers, and investors in the world are absolutely terrified by a phenomenon known as global âPeak Oil...
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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 appears to grow exponentially until the rate peaks and then declines, sometimes rapidly, until the field is depleted...
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