Based upon your readings and the interactive model for this week in the online classroom, address the topic of whether the “peak oil” argument legitimate is cause for concern. Be sure to address the following points.
Can discoveries continue to keep up with depletion? Why or why not? If so, for how long?
Is OPEC’s power likely to increase, decrease, or stay the same? Why?
Saudi oil reserves are enormous. Do you anticipate Saudi Arabia will significantly expand its oil production capacity? Why or why not?