Peak Oil is the hypothetical point in time when the global production of oil reaches its maximum rate, after which production will increasingly be unable to meet demand. The essence of the concept is that once demand exceeds Peak Oil production then it will be too late to simply increase the rate of prospecting and drilling to meet that demand by using conventional technology. Many experts believe that demand exceeded production as far back as in the 1970's. Today the population growth of the world and the ever increasing rates of oil consumption tend to reveal that, even using our latest oil prospecting and drilling technologies, the oil industry will still not be able to meet global oil demand for long.
The negative effects of the increased costs of oil affect almost every part of our modern day civilization from the delivery and price of food, power, transportation and medical care. For these reasons there is a real need for prospecting and drilling to proceed at the fastest rate possible to help reduce the negative effects of the limited supply of oil.
While we do not believe that we can cure the global problem of Peak Oil, we believe that our business of creating owner run and managed franchises will greately increase the amount of prospecting and drilling required to help stem the negative effects of Peak Oil.