Question

What does the term "peak oil" refer to?
a. the time period during which the rate of oil use is highest
b. the point in time at which the maximum amount of oil is being pumped from underground
c. an environmentally friendly synthetic oil with much lower greenhouse gas emissions than conventional oil
d. the time period during which oil refineries operate at their highest capacity
e. the time period during which international economies based on petroleum products arose?

Answer 1

B. The point in time at which the maximum amount of oil is being pumped from underground. 

"Peak oil" refers to the measurement for the productivity and extent of extracting oil from the ground. The peak point is when the most oil is being extracted or pumped. If graphed, this would indicate the top of the crest or cycle for oil extraction for this particular site from underground.