Transportation News: Does Rapid Decline in Mexican Oil Field Prove Peak Oil

Mexico’s Cantarell oil field, the world’s second largest producer, is beginning to dry up

We


In the past year, the Cantarell field has seen its daily production rates drop by 20 percent, an incredibly rapid decline. It is now producing about 1.6 million barrels per day, down from two million a year ago.

The Wall Street Journal recently noted the challenge faced by world oil production: