Impending world oil shortage is real According to a Mar. 3, 2002, story in the Houston Chronicle, "Half of American's believe there is a real energy shortage in this country" while "last summer, only a third thought the shortage was real." Recent wild price swings in natural gas as well as gasoline at the pump have most surely brought this subject to light. Much has been written lately about upcoming domestic and world oil shortages, yet most individuals choose to not deal with the problem.In 1956, a Shell Oil Co. geologist named M. King Hubbert did a study on US oil production up until that point and concluded that domestic oil production would peak in the early 1970s. Peak productio...

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