Late geophysicist Hubbert predicted way back in 1956 that peak year for oil production would be between 2004 to 2008. Though during 1956, it wasn’t given much accreditation….right now more & more oil analysts are saying that will be the case.
It’s difficult to predict but definitely range for peak oil production is between 2002 to 2010. At least from 2010, oil production is DEFINITELY GOING TO GO DOWN.
Reason :- We just can’t find enough oil reservoirs. And the ones that are being found cannot be extracted profitably.
Now what’s going to add up to the chaos?? – China & India’s production are rising rapidly.
Some say, oil will run out by 2050.
But the problems will start much early, within 2015……when production will be 60% of today’s with huge demand + NO ALTERNATIVES.
It would mean global conflicts of a scale not seen before.
What’s happening in the Mid-East is SCARY ??? Experts say –
Tuesday, June 26, 2007
Friday, June 8, 2007
Subscribe to:
Posts (Atom)