The world is running out of oil faster than society suspects, and last year's $4.11 gasoline spike was just a bitter hint of the future, according to a "peak oil" theory whose key proponents will gather in Denver this week.
Though peak-oil theorists prompt scorn from many in the petroleum industry, they've attracted an audience in some political and financial circles with their warnings to avert disaster by conserving, diversifying and exploring at an urgent pace.
"Up until now, technology has delivered dazzling results to America and the world economy, in delivering oil from all around the world despite increasingly challenging environments," said Dave Bowden, executive director of the Denver-based Association for the Study of Peak Oil & Gas-USA, or ASPO. "The harsh reality is, despite the best efforts of amazing technology, they're not finding as many of these big fields anymore.""
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