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Sunday, September 9, 2007

Most Informative and Clear Report about Peak Oil: The Hirsch Report 2007

"Because oil is a depleting, finite natural resource, world conventional oil production will reach a maximum, called "the peak," after which production will decline. Using differing methodologies and information of widely varying quality, experts and organizations have attempted to forecast the likely year of conventional oil production peaking. Their range of estimates extends from late last year to an apparent denial that it will ever happen. Almost all
forecasts are based on differing, often dramatically differing geological assumptions. Explicit account of investment rates in new and expanded production has been relatively rare."
Peaking of World Oil Production: Recent Forecasts, February 5, 2007

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You might have heard: oil is a finite resource. So, it will run out one day. But before that happens crude oil production rates will decline and world oil supply is at risk. Some say peak production is already at hand and the curde oil markets are out of control. The goal of this blog is to provide the most comprehensive and updated platform on the topic of peak oil.

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