Most of the peak oil news reports will always have expert forecasts about the price of oil. But there is a trouble with most of these forecasts. In most of the cases these forecasts often won’t be accurate, due to the volatility of the oil market. The accuracy can change with time and market changes. Predictions can be made for a short period of time, but long term predictions are not possible in case of oil market. If this is the condition you can imagine the difficulty of predicting the energy system of the world 10 years from now. There are many difficulties in making these predictions. Among them include the following reasons
1. It is highly difficult to access the audited data like the oil and gas reserves of the highest producers of oil in the world.
2. Future oil discoveries are always unpredictable
3. Experts are still uncertain about the rate of depletion of fossil fuels.
4. Research programs are going about the possibilities of using renewable resources like sun,…