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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. In the past 30 years no significant liquid oil fields have been discovered.
With this decline in oil production comes many troubles, everyone knows that oil is used for transportation, heating, and cooling but what they don't know is that it is used for pesticides too...
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