Final answer:
Peak oil is the point at which oil production reaches its highest level and then starts to decline. We should care about it because it can lead to higher prices, energy scarcity, and the need to find alternative sources of energy.
Step-by-step explanation:
Peak oil refers to the point at which oil production reaches its highest level and then starts to decline. It is a term used to describe the concept of limited oil reserves and the potential consequences of decreasing oil production. We should care about peak oil because oil is a significant source of energy and plays a vital role in our daily lives, especially in transportation and industry. When oil production declines, it can lead to higher prices, energy scarcity, and the need to find alternative sources of energy.