Has oil production finally peaked?

With the demand for energy around the world ever increasing, are we edging closer to “peak oil” – and what can be done about it?

Stephen Leeb, founder of Leeb Capital Management Group and a long-time analyst on Wall Street, thinks so.

“We have a president that says we’re addicted to oil, but doesn’t say that we don’t have enough oil to satisfy our addiction,” he says. “He really hasn’t alerted us to the fact that it’s a true crisis.”

Mr Leeb is not alone. Energy research consultant Daniel Yergin, of Cambridge Energy Research Associates, believes the concerns are widespread.

BBC