World Oil Production Has Peaked and Will Steadily Drop
Posted Nov 25 2009 10:01pm
An analysis posted on The Oil Drum refutes the assumptions of both the International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA) that oil production will not decline, but will increase as the economy improves. Both agencies assume that technology and future investments in drilling innovation will be able to keep up with increasing technological demands to retrieve the oil.
An analysis posted on The Oil Drum refutes the assumptions of both the International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA) that oil production will not decline, but will increase as the economy improves. Both agencies assume that technology and future investments in drilling innovation will be able to keep up with increasing technological demands to retrieve the oil.
Read More: http://www.aaronsenvironmental.com/2009/11/world-oil-production-has-peaked-and-w