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<!-- P1 -Introductory paragraph on Peak oil. -->'''Peak oil''' is the point in time when the maximum rate of global [http://en.wikipedia.org/wiki/petroleum petroleum] [http://en.wikipedia.org/wiki/Extraction_of_petroleum extraction] is reached, after which the rate of production enters terminal decline.  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 [http://en.wikipedia.org/wiki/Aggregate_data aggregate] production rate from an [http://en.wikipedia.org/wiki/oil_field oil field] over time usually grows exponentially until the rate peaks and then declines—sometimes rapidly—until the field is depleted.  This concept is derived from the [http://en.wikipedia.org/wiki/Hubbert_curve Hubbert curve], and has been shown to be applicable to the sum of a nation’s domestic production rate, and is similarly applied to the global rate of petroleum production. Peak oil is often confused with [http://en.wikipedia.org/wiki/Oil_depletion oil depletion]; peak oil is the point of maximum production while depletion refers to a period of falling reserves and supply.

==More Information==
*[http://en.wikipedia.org/wiki/Peak_oil Peak Oil] article at Wikipedia

==See Also==
*[[Rocky Mountain Institute]]
*[[Transition Handbook]]
*[[Transition Town Movement]]
*[http://ourworld.unu.edu/en/series/oil/ OurWorld 2.0 - Series: Oil]

[[Category:Energy]]