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More Evidence That Peak Oil is Now

peak-world

Earlier, ASPO chairman Kjell Aleklett predicted that peak oil would be 2015-2016. Now Ron Patterson of OilPrice.com has analyzed new EIA data and comes tentatively to the same conclusion:

I am now more convinced than ever that 2015 will see the peak in world crude oil production. I have very closely studied the charts of every producing nation and my prognosis is based on that study. I see many nations in steep decline and most every other nation peaking now, or in the last couple of years, or very near their peak today. These include the world’s three largest producers, Russia, Saudi Arabia and the USA.

Editor: the delay of execution thanks to fracking has now been consumed. Expect the oil price to go up substantially soon. Again: peak oil is a confusing term. Far more interesting is peak fossil, since most applications of oil, gas and coal are interchangeable. Nevertheless, peak oil will make itself felt, especially for those people who recently bought a new car fueled by diesel or petrol. That was probably a miss-investment.

[oilprice.com] – 2015 Could Be The Year Of Peak Oil

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