Wednesday, June 29, 2011

Did increasing amounts of money, debt, energy and people enable the world to consume more raw materials in the last 75 years than in recorded history?

If US mainland oil discovery peaked in the 1930’s
leading to a production peak in the early 1970’s
and world discovery peaked in the 1960’s
when should global oil production peak?

By some estimates there will be an average of 2% annual growth
in global oil demand over the years ahead
along with conservatively a 3% natural decline in production
from existing reserves

Richard Bruce Cheney

1 comment:

Bubba said...

Good thing we have such a safe and proven energy tool like fracking to call upon, don't you think?