Posted by crayz
at 08:40PM on 06/28/2005
I’ve kept up with much of the debate around oil production for the past few months, but never posted anything on it on here. The whole concept is still seen very much in a “conspiracy nut” type of way, but it sounds very real from most of what I’ve read. I don’t believe anyone who says they can predict an exact timeframe, but the general indicators appear to be unanimous and dire in their direction. To
quote,
85 percent of all the oil ever discovered is now in production, and only half the total produced last year was replaced by new field discoveries. Annual consumption has now exceeded new discoveries every year since the early 1980s. Overall, worldwide oil discoveries have been declining steadily for the past 40 years.
Sky falling? No, perhaps not yet; but an umbrella wouldn’t be a bad idea
