DOE Still Disavows Peak Oil

The EIA does not expect oil production to peak in 2011. When asked if the EIA expects to see oil production ever peak and diminish, Mayne replied that the agency does not anticipate a peak oil scenario resulting from supply shortages: “We do not see a peak, if a peak means a sharp retraction in oil production.”

In fact, Mayne argued, the world’s total projected oil consumption in 2030 “could be met, given current resource estimates.”

That claim is backed up, according to Mayne, by the EIA’s country-by-country estimate of future oil production. “Actual production, of course, will likely differ somewhat, but we do feel from an analytical basis that these production estimates are likely to progress in a way that’s shown” by EIA models, she said.

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