[Vo]:Past the Peak

[Terry Blanton]

According to The Grey Lady, we are past the Hubbard Peak:

http://green.blogs.nytimes.com/2010/11/14/is-peak-oil-behind-us/?src=twttwt=nytimesgreen

Peak oil is not just here — it’s behind us already.

That’s the conclusion of the International Energy Agency, the Paris-based
organization that provides energy analysis to 28 industrialized nations.
According to a projection in the agency’s latest annual
reporthttp://www.worldenergyoutlook.org/,
released last week, production of conventional crude oil — the black liquid
stuff that rigs pump out of the ground — probably topped out for good in
2006, at about 70 million barrels a day. Production from currently producing
oil fields will drop sharply in coming decades, the report suggests.

The agency does not see energy doom on the horizon, however. By its
estimation, after a short dip in production, crude production will reach an
“undulating plateau” of about 68 million barrels a day between 2020 and
2035.

more

Re: [Vo]:Past the Peak

[Jed Rothwell]

The IEA looks like an authoritative source. Agencies such as this one 
and the DoE EIA get their data from industry sources. I trust them. It 
is in industry's best interest to tell the truth. That's a problem in 
the Middle East and Russia, but enough U.S. and European experts have 
been to these oil fields to make reliable evaluations.


This is nothing to panic about. The worst case decline (the gray line) 
is slow, giving plenty of time to develop other source of energy and 
things like hybrid cars.


- Jed