The peak extraction rate of non-renewable oil reserves occurs when roughly half of the recoverable oil in a reservoir has been extracted. This applies to individual oil wells, oil fields as well as to the world as a whole.
The world is now close to the peak for oil and gas extraction and may already have passed this point. Within a few years, even by more optimistic projections, the global supply of oil and gas will decline and the oil and gas prices will inexorably rise.
This process will have a profound impact on all aspects of our society and economy. Oil is our prime source of transportation energy - cars, trucks, ships, planes - and it is used in the manufacture, production and distribution of nearly all items our society depends on from food, water, pharmaceuticals, to plastic, clothing and so on.
ASPO-NZ studies peak indicators and strives to make national governments, local governments and the public aware of the serious consequences associated with the dwindling supply of our most useful source of energy and most universal industrial raw material.
ASPO-NZ also compiles, researches and gathers meaningful responses and mitigation strategies available as oil supplies dwindle.
ASPO-NZ has no political affiliation and membership is invited from all people and organisations interested in learning more about Peak Oil and in furthering the aims of the Association.