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To: Raymond Duray who wrote (34794)	6/7/2003 6:25:52 PM
From: KyrosL	Read Replies (1) \| Respond to of 74559

The Paris ASPO peakoil.net Deffeyes' paper abstract: peakoil.net

To: Raymond Duray who wrote (34794)	6/7/2003 7:15:55 PM
From: Wyätt Gwyön	Respond to of 74559

5000-word summary of the conference. Deffeyes apparently is calling peak oil right now. siliconinvestor.com edit: from the Deffeyes abstract posted by Kyros: Estimates of world oil production made after 1980 do not require independent guesses about the total world oil endowment. Many of these scenarios placed the world peak between 2000 and 2010. It now looks as if the world peak production year is 2000. The 2001 and 2002 production levels were lower than 2000, and 2003 is not off to a great start. On March 6, 2003, the Dow Jones Newswire stated that the government of Saudi Arabia announced that "the kingdom's crude oil output has reached its limit at around 9.2 million barrels a day and won't rise further." The announcement received little or no publicity. Those of us who worked on the estimates are no longer prophets; we are now historians.... OPEC has been attempting to hold world crude oil prices in the range of $27 per barrel. Most of the unused oil production capacity has been in Saudi Arabia, but that surplus capacity has now disappeared. The good news is that OPEC is no longer in charge of the price of oil. The bad news is that nobody is in charge. Welcome to the post-Hubbert world. Proceedings of the 2nd International Workshop on Oil Depletion, Paris, France, May 26-27 2003, Edited by K. Aleklett, C. Campbell and J. Meyer, www.peakoil.net/iwood2003 .