When Oil Runs Out
This recent article indicates that 2005 was the year of peak oil production and that supply will rapidly fall off, leading to large scale blackouts and economic dislocation starting about 2025, Click here to see full article. This article runs counter to other items we’ve seen which argues that high prices will drive further exploration efforts and tap new sources.
The research and forecast is provactive but it makes a compelling read in light of the current volatility in the oil markets. Can these gloomy predictions be realistic or can we be more sanguine about the outcome?
