Peak oil really is here
Friday, May 16th, 2008Peak oil has been predicted so many times that, like the boy who cried wolf, no one believed the prophets of doom any more. I certainly did not. But even a stopped clock is right twice a day, and oil production peaked in 2006
According to the US Energy Information Administration World oil production in barrels per day was:
So in one sense oil has not yet peaked – last month was the highest ever, but not by much.
Of course, in the long run, oil cannot peak. Coal to liquids and gas to liquids must fill the gap. But at present, that is small, and not rising very fast.