The Oil Drum: Peak Oil is Probably Now

The Oil Drum, a website dedicated to peak oil news and discussion (if you don't know what "peak oil" is, you can read this primer), has a nice summary of arguments and analyses that tend to indicate that we are either on the peak of oil production or very close to it. The whole thing is really a must read, and each section contains links to more in depth articles, so there's quite a bit of reading material in there if the future of our energy supply interests you (and it should). To give you a better idea of what is covered, we'll reproduce the subtitles below. Just looking at those is enough to tell you that things are not going well.

  • There's a very good chance claimed OPEC reserves are exaggerated.

  • World production stopped increasing in late 2004.

  • Decline rates of existing production are very high

  • Hubbert Linearization points to peak oil

  • At least one major oil company is warning us

  • The price of oil keeps going up.

  • There is no evidence of Saudi spare capacity

  • There are geopolitical and climatic risks to the existing production level

The post is here: ::The Oil Drum: Why peak oil is probably about now

For more about peak oil: ::Peak Oil Report: Half of Kuwait Oil Reserves Disappear, ::Norwegian Peak Oil?, ::Canadian Oil: At What Price?, ::Peak Natural Gas, ::Grist Interviews Matthew Simmons on Peak Oil, ::Peak Oil – The Lessons of Y2K, ::See Peak Oil for Yourself

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