Post Peak Oil Post
October 22, 2007 5:58 AM Subscribe
posted by roofus (87 comments total)
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"The world is at the beginning of a structural change of its economic system. This
change will be triggered by declining fossil fuel supplies and will influence almost
all aspects of our daily life.
The new Oil Report from Energy Watch Group
makes a strong case that we have now passed peak oil.
It identifes 2006 as the year of global peak oil, with a 7% annual fall in production from now on. They make no predictions regarding future prices, though many options traders are betting on $100/barrel within a month
. The Guardian
have some additional background on the report. (previously