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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Archie Meeties who wrote (127600)1/18/2010 8:29:07 AM
From: CommanderCricket  Read Replies (1) of 206121
 
Agree with Jim, peak oil for API 32 and above is already behind us. The light, sweet crude is depleting much faster then we're finding new sources.

For the remaining crude production (not reserves) under API of 30, we may have already hit peak supply in 2005 or 2008 but think we'll struggle along for a few more years.

I haven't seen any data that even suggests supply can go above 90 million bbls/day.

We've got plenty of reserves to last another 50 - 100 years but it won't be coming out of the ground cheaply or quickly.
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