Famed Oil Tycoon Sounds Off on Peak Oil

In recent months, legendary oil baron, T. Boone Pickens has become increasingly vocal about his view that peak oil is upon us and high prices are here to stay.

Addressing the 11th National Clean Cities conference last month Pickens said, “Global oil [production] is 84 million barrels (a day). I don’t believe you can get it any more than 84 million barrels. I don’t care what [Saudi Crown Prince] Abdullah, [Russian Premier Vladimir] Putin or anybody else says about oil reserves or production. I think they are on decline in the biggest oil fields in the world today and I know what’s it like once you turn the corner and start declining, it’s a tread mill that you just can’t keep up with…So, when you start adding the reserves in these countries, you’re not even replacing what you’re taking out.”

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