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Friday, October 26, 2007

News Agency Reuters Speaks the Language of Peak Oil

Before you read this article, consider that the USA imports around 1 million barrels of oil from the Mexican Cantarell Oil field per day. That is around 5% of the US oil consumption per day. Now, this oil field is in serious decline and there are no other oil fields which cover these oil production losses. Reuters now speaks a clear peak oil language for the Cantarell Oil FIeld. Oil prices exceeded $91 toady again and it is obvious that we see the effects of peak oil world wide. It is not the time of debating or questions. It is the time for answers.

Mexico's Cantarell oil output recovers in Sept
Reuters - USA
MEXICO CITY, Oct 26 (Reuters) - Crude oil output from Mexico's declining Cantarell offshore field recovered to 1.461 million barrels per day in September ...


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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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