Oil fields do decline! And only very few new oil field discoveries have been made worldwide. David Pauly from Bloomberg News comments on the new development amongst the big oil companies and the notion of peak oil:
Bloomberg on Slow Liquidation of World Oil Industry
Welcome to the Crude-Oil-Alerts Blog!
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.