When I bring up Peak Oil in casual conversation, I usually end up having to explain it to whoever I’m talking to. The truth is that not many people have heard of it. I decided to bring it up because I read an interview today with Matthew Simmons (former G.W. Bush energy guru) in Grist Magazine where he points out that the Saudis (who supply a quarter of the world’s oil) are currently pumping 18 million barrels of water/day to get out 8 million barrels of oil. This method of oil extraction is not sustainable and means that A) their wells are running close to “E” and B) losing a quarter of the world’s oil supply is a Very Bad Thing™ since the world economy is still built on oil.

In case you didn’t know, Peak Oil is the theory that there is a very finite amount of big oil fields in the world and that new oil deposits will not be found/tapped at a rate that can supply enough to satisfy demand. Essentially, there’s a maximum number of barrels/day that can be produced and we’re either about to “hit the peak” or we will reach it soon.

It won’t be happening overnight, but a gradual drop in the amount of oil available worldwide has the potential to cause world chaos in the form of recessions, poverty, and worst of all: War. Very scary stuff.

The only good that can come of this is a sudden, rapid investment in the development of alternative energy sources. Before that happens, however, it is likely that cultures all over the world will be forced to quickly adapt to a world without giant SUVs and generally wasteful habits.