Global Oil Output Peaked in 2006 - German Think Tank

[lovuian]

http://www.planetark.org/dailynewsstory.cfm/newsid/44955/story.htm

BERLIN - Global oil output peaked in 2006 and will decline by seven percent per year, a Berlin-based energy think tank said on Monday, drawing a bleaker picture of energy supplies than other forecasts.


Energy Watch Group, which has ties to the German Green Party, said in a report that oil production will fall by around 50 percent by as early as 2030, leading to economic and social upheaval.

"By 2020, and even more by 2030, global oil supply will be dramatically lower," the report said.

"This will create a supply gap which can hardly be closed by growing contributions from other fossil, nuclear or alternative energy sources in this time frame."

Peak oil, the view that oil supplies have reached, or will soon reach a high point and then decline, is a theory that is widely rejected by the oil industry.
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It makes invading Iran even more understandable for Cheney

[EVDebs]

1. Wuuuuuuuuu. A 'think tank' can do simple arithmetic !

1 Trillion barrels of oil left (trust me, the Chevron tv ads say so)

bwt 85 million and 120 million barrels per day consumption (split the diff and say 100 million). With 365 days in a year.

About 27 and a half years.

But hey, the Republicans have guaranteed that we piss away the PAST 30 years without alternatives. All because Nixon's old plans to seize Saudi, and now Iraqi, oil fields were available to the DoD/MI complex:

See post #33 at
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x2103422#2103432