Non-OPEC Oil Peak in Five Years

Technocrat has the story:

“The International Energy Agency has released a mid term report and one of their conclusions is that non OPEC oil producing nations will more or less pass a plateau in 2012 where projected demand for crude will not be able to be met because of declining reserves. OPEC is expected to take up the slack, but will be quite close to maximum possible production levels at that time, and prices will be going up sharply.”

Read the rest here: Non-OPEC Oil Peak in Five Years

(Via Technocrat.)

Author: Nick Knisely

Episcopal bishop, dad, astronomer, erstwhile dancer...