Peak Oil Is Closing In

Heard of peak oil? It’s the name given to a prediction that the world’s oil production will reach a peak, and then rapidly decline; and that the actual peak year will only be known after it has passed. And the theory had last week’s biennial New Zealand Petroleum Conference all abuzz, as Rob Maetzig reports.

Matt Simmons might be small in stature, but he’s a giant in the worldwide oil industry.

Chairman of a specialised energy investment banking firm which has completed more than 700 investment projects for energy clients at a combined dollar value of at least $US70 billion, he’s also energy adviser to the Bush Administration.

So when Matt Simmons says the world is rushing headlong into an energy crisis the likes of which has never been experienced before, then people should sit up and take notice.

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