”Peak oil”, the point at which global petroleum production reaches its maximum, could come as early as 2011, a Cape Town conference on oil and gas heard on Tuesday. Chris Skrebowski, editor of the British Energy Institute’s magazine Petroleum Review, told the conference that the peak will come in 2011 or 2012.
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/ 22 October 2007
World oil production has already peaked and will fall by half as soon as 2030, according to a report that also warns that extreme shortages of fossil fuels will lead to wars and social breakdown. Global oil production is currently about 81-million barrels a day — the report expects that to fall to 39-million by 2030.