If the past century has been referred to as the Age of Oil. As we reach a possible peak in oil production, what alternatives are forming?
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Answer:
Worldwide discovery of oil peaked in 1964 and has followed a steady decline since. According to industry consultants IHS Energy, 90% of all known reserves are now in production, suggesting that few major discoveries remain to be made. There have been no significant discoveries of new oil since 2002.
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