06 August 2008

A graph supporting the concept of "peak oil"

The controversy over "peak oil" is immensely complicated and way, way beyond the scope of what I can cover in TYWKIWDBI. The graph above is from the seemingly-reasonable Wiki article on the subject; it displays oil world oil production - but does not include OPEC countries or the Soviet Union. There are a variety of interpretations offered - that the world is running out of oil, that only "easy oil" production has declined, that production doesn't reflect reserves... draw your own conclusions.

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