¥The 20 largest oil fields
were discovered between 1917 and 1979
¥Since 1981, oil
extraction has exceeded new discoveries by a widening margin
¥Most of the easily
recovered oil is already pumped
¥
Photo
Credit: iStockPhoto / Brasil2
Once oil production
turns downward, countries will compete for a shrinking supply. It will be far more difficult to expand
energy-intensive agricultural production when the price of oil is rising and the supply is
declining.
