by reggieUK » Tue 19 Apr 2005, 09:03:09
$this->bbcode_second_pass_quote('', 'I') regard Peak Oil and demand exceeding supply as two very different things. I think it should be clear that we're not at peak today since production is still increasing, February production was reported somewhere as 83.4 million barrels per day, highest ever.
Pedantically I disagree. Yes Peak Oil [/U]production
may mean that but I see peak oil as very simply when we are using[U] more than we are supplying to the market............and I think that is how the majority of people see peak oil, maybe not on here, but certainly out there. Production declines just adds to the woes so to speak.