Peak Oil: Russian Style

The concept of peak oil is gathering strength. And evidence from Russia suggests that one way or another, the world’s number two oil producer is trying to provide substantive proof that the days of rising production are a thing of the past.

The declining state of the Russian oil industry is not new. We’ve covered it here before.

There is now a rising consensus, that the concept of Peak Oil, put forth in “Hubbert’s Peak,” by Kenneth S. Deffeyes, is actually here. That means that major decision makers, although far from acknowledging it publicly, are thinking about it, and are perhaps acting as if indeed it is truly here.

Rigzone