Peak of oil means
What does peak oil mean? peak oil is defined by the lexicographers at Oxford Dictionaries as The hypothetical point in time when the global production of oil reaches its maximum rate, after which production wil Thus peak oil will occur because we have exhausted easily accessible oil (something that is happening rapidly). After peak oil, in the latter half of the century, there will still be considerable oil (and natural gas) in the ground, but it will be so expensive to extract that other energy sources will be utilized.