Peter Reutemann presented virtualenv and using the setuptool python module.
The file virtualenv_and_setuptools.odp is Peter's slide show. While PyFunk.tar.gz is a zip of the files involved his setuptools presentation.
venv — Creation of virtual environments became new in version 3.3 (September 2012). The venv module provides support for creating lightweight “virtual environments” with their own site directories, optionally isolated from system site directories.
The pyvenv script has been deprecated as of Python 3.6 (December 2016) in favor of using
python3 -m venv to help prevent any potential confusion as to which Python interpreter
a virtual environment will be based on.
Deprecated since version 3.6: pyvenv was the recommended tool for creating virtual environments for Python 3.3 and 3.4, and is deprecated in Python 3.6.