Peak Oil: On the Verge of Hitting Prime Time

Some time within the next twenty years, perhaps as early as 2008, world oil production will peak, and life as we know it will change. This seems to be the emerging consensus being rapidly embraced by the academic and trading community in some circles.

One scientist, the University of Reading’s Dr Roger Bentley, the secretary of the Association for the Study of Peak Oil & Gas, told the audience that “the evidence is irrefutable. He points out that 64 of the world’s 100 or so oil-producing countries are already past the point of peak production and on the downward slope. Although there may be a “mini-glut” as output is stepped up from Russia, the Caspian and Iraq and new sources come on stream such as deepwater oil and oilsands, the trend, he says is unmistakable.”

http://www.financialsense.com/editorials/duarte/2006/0120.html