More Signs That 2015-2016 Will be Global Peak-Oil
Even representatives of the oil industry have to admit:
In a world where oil prices are expected to average just $50-$70 per barrel over the next few years, actual decline rates could easily reach 3 percent or even 4 percent per year. Under a range of plausible assumptions, decline rates could easily cut between 1.4 million and 3.6 million bpd from the output of existing fields in 2016 and again in 2017.
Peak oil finally arrived with a decade delay, due to fracking.
Richard Heinberg, kom er maar in.