"Peak Oil" refers to the point in time when the maximum rate of petroleum extraction is reached, after which production will gradually decline. This concept suggests that oil resources are finite, and as easy-to-extract oil becomes depleted, it becomes more challenging and expensive to find and extract new supplies. The implications of Peak Oil can affect global economies, energy prices, and environmental policies. As oil production declines, countries may face energy shortages, prompting a shift towards alternative energy sources like solar energy or wind energy to meet growing demands and reduce reliance on fossil fuels.