Tuesday, November 18, 2008

Peak Oil- Production Decline Rates

Chart courtesy of the Oil Drum (http://www.theoildrum.com/) - World oil production (EIA Monthly) for various forms of oil.. forecast is calculated from 14 models that are predicting a peak before 2020 . 95% of the predictions see a production peak between 2008 and 2010 at 77.5 - 85.0 million barrels per day (The 95% forecast variability area is in yellow on the chart). Click to Enlarge. IF supply destruction is greater than demand destruction? prices go higher...if not ?...

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