Canada Reaches Peak Oil In 2020

Behind the rosy glasses and good news, tinkling of champagne glasses, report of the Canadian Association of Petroleum Producers, touting the increased growth in the Tar Sands oil production, there lies the ominous Peak Oil prediction. Yep peak oil will begin in Alberta in 2020, about the time that Hubbert predicted. ” production from conventional oil wells will decline by half by 2020, to only 550,000 barrels a day, CAPP predicts.”

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