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Have We Reached Hubbert's Peak?

More and more the topics of oil shortages and addictions are becoming a hot button issue. Everyone has noticed the rise of gas prices in the past year. The reason for this increase is the fact that the world has reached Hubbert's Peak. No, it' not mountain, it's a time span. In 1956 M. King Hubbert created a theory that say at a certain point oil production will reach a peak and then slowly start to decline regardless of the demand.
Hubbert said that by 1970 the world would reach this peak, but because of unconventional means of obtaining oil such as tar sands this peak has not yet been seen. Even though Hubbert didn't get the year right his theory has still proven correct. We have already reached the peak and are beginning to feel the effects of its decline. For every 10 barrels of oil used only four barrels are discovered. New oil fields are still being discovered but none that are big enough to substantially change the amount of oil produced.......

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Approximate Word Count: 476
Approximate Pages: 2 (250 words per double-spaced page)