Social Impact Of Peak Oil

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Research question: How can peak oil impact the economic, social, environmental impact, consumer and producer?
What is Peak oil? Peak oil is the maximum extraction of petroleum when reached a certain level. Who is the founder of peak oil? Marion King Hubert. When oil first discovered? In 1847.There many ways that how a peak oil could affect the world especially the countries that relies in the production oil and that’s the only source of money, or the country that relies on oil for electricity, transportation, and etc. Peak could be a good thing or a bag thing.in that ay that peak oil could be a good thing is the pollution will be decreased, but the bad thing will be is that there will be a scarcity of oil which will reduce the usage of oil like there will be less transportation. Now I am going to write in the following paragraphs what is the social impact, what is the environmental impact, and last but not least comparison of peak oil impact producer vs consumer.
1-What is the social impact of peak oil?
There are many impacts of peak oil the first social impact is there will be scarcity of oil like there will be less oil because less oil is being produced so less oil will be available to the people and many people depend on oil like the electricity is powered by oil in most countries and also to use the machineries in the factories they need oil to power and also since there is scarcity in oil many companies will shut down because they need oil to power up there

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