The concept of peak oil theory was not accepted or believed in the earlier days. Hubert was the first to term the peak oil crisis in 1970s. It is been a topic of huge debate and has got critical reviews from people. We are now living in an age, where oil reserves are getting drained and are at the brim of looming into big time oil scarcity. Everybody wants to know the reason behind this crisis and the solution to overcome from becoming peak. To begin with, we all know that oil is relatively a non renewable source and will be extinguished as all the reserves will drained of it. The extraction of oil from below the ground would not help in the long run and we would soon run short of oil for our daily needs.

We should understand that the peak concept theory is more like sloping curve, where maximum demand of oil would happen at the onset. It soon saturates and decreases on the move. Right now, we are at the first phase, where the demand of oil is up and so are the prices. It has lead to the extraction of oil from various resources. Most of these would soon dry up thus leading to scarcity of oil. Although a lot of people still speculate about the truth behind the peak oil theory, there is more to this than just oil.

Assume that on an average, 90 to 100 gallons of oil barrels are being extracted on a normal day. We would still have enough oil to run our automobiles and other needs even, after the reserves dry out. According to Hubert's theory, he calculated and plotted a graph so as to create a general awareness among people about wasting a finite resource such as oil.

Many people still take a good aim with Hubert's point and though it is bound to happen in the future, the depletion will take place at a slower rate. Imagine the price of a fuel to be as expensive as your home insurance premium and you would not want to indulge on fuel. This would drastically reduce the need of fuel. Becoming expensive will make oil reserves surge with plenty of oil for the upcoming years. The huge demand for oil would downslide by then thus making the rates normal as before. This is just an assumption, where we would need only 5 - 10 barrels of oil during the crisis.

On the hand, the scenario can turn shades by fueling the prices and giving a huge blow to the economy as well. There are cases, where oil reserves of various countries would be competing to reach the top notch spots. Peak oil theory is still far away, thus giving us enough time to slow down on the annual consumption of oil. It is a brake to remind us of the hard times ahead and to use this finite resource in a wiser manner. This sudden crisis can be averted with timely help from every responsible individual and to spread awareness about peak oil.