Norwegian Peak Oil?
Time for more peak oil news: "Preliminary figures from the Norwegian Petroleum Directorate for 2005 indicate that average daily production on the Norwegian Shelf dropped to around 2.5 million barrels per day in 2005, down 11% from 2.8 mbpd in 2004. Final figures will be available later in January. The results mark a continued decline from the peak in 2000 of 3.14 million barrels per day (excluding condensate)." As one of the major non-OPEC producers of oil and an important source of oil and natural gas to Europe, Norway's production decline is a big deal. Lets hope that this will encourage policy makers to invest in clean technologies and not to try to drill their way out of it - at best it will push back the problem a few years and make global warming and pollution worse, at worse it will be a waste of time and resources that could better be used making the transition to a post-fossil fuel world smoother. ::Norwegian Oil Production Down 11% in 2005