The war for black gold: Oil crisis

Extract

[...] The only way to get oil is to fight for it just like how the kings fought for their queens and land in the ancient ages, just like how Hitler became a nightmare to the world when he wanted every piece of land that was not his. It is time for me to take you through a few facts about the fall of supply of oil, which might result in the eruption of Black Gold or the World War III. It's important to know the number of countries producing oil though I have mentioned the top 5 earlier. [...]

[...] According to the GAO report on oil crisis submitted to the US government in February 2007 peak production of oil in the US will depend on a variety of factors such as cost of production, technology, environmental restrictions, the prevailing politically sensitive conditions in some countries with oil and the global future demand for oil. Also according to a graph in this report between 1960 and 1975 US oil production reached a peak or nearly 9.5 million barrels per day, however shortly after 1975 it fell to around 7.5 to 8 million barrels per day to 2005 has seen a steady decline in production figures from around 7million barrels a day in 1990 to around 5 million barrels in 2005. [...]

[...] As off now there are close to a 100 countries producing and supplying oil, which means practically half the world produces oil, which might bring a smile on ones face but not for long when you consider the quantity of oil produced by most countries which is not even enough to take care of their own requirements. Now also consider the fact that two thirds of the oil producing countries have already passed their production peak and are now facing a massive decline in the production of oil and this fact alone is enough to give me nightmares about a life without oil. [...]