Explain the term peak oil

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Explain the term peak oil. Are we at the point that we are indeed passing the point of "peak oil"?

What might people do if the price of gasoline reached $10 per gallon? How has life changed now that gas has been less costly?

What about our price of a tank of gas with respect to the rest of the world? Do we pay more or less on average than everyone else? Lastly, do we import most of our petroleum or do we extract it here in the US?

Reference no: EM132935150

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Explain the term peak oil : Explain the term peak oil. Are we at the point that we are indeed passing the point of "peak oil"?
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