February 19, 2013
Are We at GLOBAL Peak Oil Production?
Lou Gagliardi, Consumer Energy Report
Let’s build upon last week’s long-term bullish case for crude oil. Much has been said about, “Global Peak Oil” production in the last few years, and probably for good reason. We know that U.S. crude oil production peaked in the early 1970s just as Mr. King Hubbert predicted back in the late 1950s.
But, is peak global oil production just around the corner?
Energy industry analysts believe that global oil production will peak sometime between 2015 and 2025. That sounds like a fairly broad range. However, the reality is that it’s a fairly short timeframe in geologic time that does not even register a notch, and it’s rapidly coming upon us.
TAGGED: Peak Oil, Oil