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May 17, 2012

The Difficult Future Facing Black Gold

Daniele Ganser & Niklaus Boss, Swiss Info


New American

Daniele Ganser: For conventional oil, that can be easily and cheaply extracted, "peak oil" was reached back in 2006, with 75 million barrels per day (bpd). For non-conventional oil, the peak will probably be reached before 2020.

Niklaus Boss: I don’t know. I imagine we are relatively close to the peak, and that without huge investment the amount extracted cannot be increased. . .

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TAGGED: oil prices, energy investment, global energy consumption, oil, Swiss Info

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