Peak Oil and Peak Demand

I enjoy reading the essays of Gregor Macdonald. Mr. Macdonald asserts the Peak Oil hypothesis. He has amassed a collection of supporting factual detail. The Peak Oil hypothesis holds that worldwide annual petroleum production increased to a peak in the first decade of the third millennium, and annual production will decline hereafter.

Why the peak? There are several explanations, and here are some of them. They aren’t mutually exclusive.