The Corpus Callosum

Quick Update on Peak Oil

Traditionally, the oil industry has tried to paint a rosy
picture when it comes to Peak Oil.  That is changing,
according to industry insiders:

href="http://www.oilonline.com/news/headlines/internet/20071016.New_find.24707.asp">New
findings on peak oil timing and impacts to be presented at Houston
Conference

by: OilOnline
Tuesday, October 16, 2007

SPO-USA World Oil Conference, Oct. 17-20, in Houston, Texas.

HOUSTON, TX

The Conference will present new research and findings that indicate
Peak Oil impacts may hit sooner and harder than previously predicted,
according to Steve Andrews and Jim Baldauf, Conference Co-Chairmen and
ASPO-USA co-founders. The term “Peak Oil” refers to the view that world
oil production will reach a high point followed by an irreversible
decline within the near future…

…On Wednesday night at this week’s Houston Oil Conference, Aage
Figenschou will report on the changing date of Peak Oil as predicted by
the IFP, the French Petroleum Institute. He says that in 2001 IFP
predicted oil would peak in 2020. But in 2006, IFP said the year would
be 2015; and in June of 2007, they had moved the peak year forward to
2010…


Three years.
 

Comments

  1. #1 Gabe
    October 17, 2007

    The sooner we hit that brick wall, the better.

  2. #2 Dunc
    October 17, 2007

    And come 2010, they might finally accept that it happened in 2006…

    [This is not investment advice!]

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