Monday, December 15, 2008

A Time Frame

George Monbiot is reporting that in an interview with Fatih Birol, the lead author of the latest International Energy Agency (IEA) report on global supplies of oil, the IEA is now predicting Peak Oil.
From Mr. Monbiot's website:

Then I asked him a question for which I didn’t expect a straight answer: could he give me a precise date by which he expects conventional oil supplies to stop growing?

“In terms of non-OPEC [countries outside the big oil producers’ cartel]”, he replied, “we are expecting that in three, four years’ time the production of conventional oil will come to a plateau, and start to decline. … In terms of the global picture, assuming that OPEC will invest in a timely manner, global conventional oil can still continue,
but we still expect that it will come around 2020 to a plateau as well, which is of course not good news from a global oil supply point of view.”

Got that? Peak oil about 2020. Go read the rest of GMs article.

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