The Oil Drum: global oil production peaked in 2008
March 17th, 2009Ace has a post at The Oil Drum today adding another voice to a growing chorus: global oil production (probably) peaked in 2008.
Here’s a chart showing all-liquids production and projected production out to 2012.
Ace restates the obvious: As oil production declines, consumption must also decline.
How the global competition for declining supplies plays out over the coming years should prove interesting.