Peak Oil Revisited

March 3, 2007 at 12:12 am | Posted in Politics | Leave a comment

Over a year ago, petroleum industry expert Ken Deffeyes predicted the peak of world oil production as November of 2005. His book Hubbert’s Peak is worth reading now, especially with Saudi Arabia’s 2006 production data now available.

Unfortunately, things are not looking good. Saudi oil production has declined 8% even as the number of production wells has increased dramatically. By the end of this year, we may be wishing for $3 a gallon gas.

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