Technocrat has another data point for us:
“The Energy Watch Group in Germany has issued a new report about peak oil and reserves. Unlike the IEA, they use production figures for their analysis, and not statements about reserves from various companies and governments, which they claim have been altered radically in the past and might not be accurate. Based on their projections and models, world peak oil occurred in 2006. Couple that with fast rising demand, and you can see the potential ramifications there. “
The longer that peak in 2006 stands, the more seriously people are going to have take as fact that we’re on the down-slope of the Hubbert curve. We’re not going to run out of oil, but I think it’s unlikely to expect energy prices to fall unless there’s an unforeseen technological development in the near future.
Read the rest here: Peak Oil- Who to Believe?