IEA says World Crude Oil Production Peaked in 2006

Celsias

Australia's Broadcasting Corporation's  Catalyst program had a peek at Peak Oil and made some fairly stark discoveries. According to the IEA the crude oil production in the world has already peaked in 2006. Existing fields are declining sharply. Worse, we need to find the equivalent of four new Saudi Arabias ! Let me repeat that 4 new Saudi Arabias needed somewhere , anywhere ! And then having made that somewhat shocking admission in the deadpan way the IEA do, they go on to project in their own data  that we will somehow manage to extract oil at a rate that is twice as high as anything at any time in history. No small challenge there, and not surprisingly a number of scientists disagree with these projections.

 

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