peak oil

(redirected from Oil peak)
Also found in: Dictionary.

peak oil

The maximum in production of oil, the energy-rich, highly versatile and easily transportable fuel.

The impact of oil on healthcare is only recently being recognised. The healthcare conclusions in the report commissioned by leaders in Bristol (UK) are that oil is the primary raw material for many drugs, equipment and supplies; that transport of patients, staff, deliveries and service are heavily dependent on oil; that suppliers are not required to provide business continuity plans in the event of fuel shortages; and rising oil costs would seriously affect health service budgets.
References in periodicals archive ?
Since the February 2005 release of the Hirsch report, two events have underlined suspicions of an imminent oil peak.
So it's business as usual, with the politicians in denial, until we finally see the oil peak in the rear-view mirror.
Public understanding about the ecological and socio-economical consequences of an oil peak is alarmingly low.
The fourth quarter usually sees annual demand for oil peak, with a possible market recovery hinging on how that helps reduce excess oil stockpiled globally, said Kuwaiti analyst Mohammed Al-Shatti.
The International Energy Agency (IEA) agrees: "We think that even if we don't discover any more oil, we won't reach the oil peak until 2032," says its chief economist, Fatih Birol.
Pessimists have been predicting an oil peak and associated mayhem since the late 1880s, and thus far the industry has proven them spectacularly wrong.
On the other hand, oil peak predictions rely on a proven historical-record methodology which employs actual data rather than supposition.
Irrespective of military or ethical considerations, it would simply lead to a higher oil peak and a steeper subsequent decline, making a bad situation worse.
Department of Energy, Peaking of World Oil Production: Impacts, Mitigation and Risk Management, examined the likely consequences of the global oil peak.
In 1977 the Workshop on Alternative Energy Strategies forecast the global oil peak as early as 1990 and most likely between 1994 and 1997.
We won't know if we have reached the global oil peak until after it occurs, but most forecasts estimate it will occur between 2005 and 2010.
Using similar calculations, numerous experts - including Bush administration energy advisor Matthew Simmons - predict that the global oil peak is virtually upon us.