24 October 2007
New Study Says Oil Production to be Halved by 2030
The German-based Energy Watch Group has released a study indicating that peak oil has already passed, and production will now decline by 7% a year.
Even if they are only half right, this will not be pretty, and by the end of 2008 we could see $200/bbl oil.
Even if they are only half right, this will not be pretty, and by the end of 2008 we could see $200/bbl oil.
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