1. Asked to list the world’s biggest oil consumers, most of us would be correct if we started with the US and China. With the US at 20.5% and China, 11.4% for 2011, we are almost at one-third of world consumption. 2. But then, it gets a bit tricky.
Have you ever heard of Hubbert’s Peak? No, it is not a mountain. Hubbert’s Peak refers to our oil supply. In 1956, Marion King Hubbert warned us that U.S. oil production would peak within 15 years. And, the only direction after the peak is