"Projected production, as you can see, is suddenly shriveling up. From 107.5 million b/d of oil projected for 2030 in 2007, to 102.9 million b/d in 2008, to this year’s meager expectation for 93.1 million. That’s a drop of 13.4% in only two years, and posits production growth of only 11.6 million b/d (14.2%) from 2006 levels.
If that isn’t an admission that the era of Peak Oil is upon us, what is?"
Tuesday, September 1, 2009
checkthemarkets.com - Washington Knows The Truth: Peak Oil and Natural Gas:
Posted by Mother of All Carry Trades at 12:30 AM