Do wells peak and decline….? yes, 150 years of observable evidence
Do regions peak and decline…. ? yes, same as above
Will the world peak and decline, given the above….? Can the answer be no?
Timing is the only question. So, yes, it is a fact, at some point. Whether what we observed between 2005-2008 was “It” will be for the history books to decide. Interestingly, M King hubbert, whom accurately predicted US peak in 1955 also predicted a 2005ish peak for world oil production. Of course his accurate prediction for the US was laughed at and scorned. Why was he laughed at I wonder.
Actually, Shell changed what he said for the official company statement to make it seem like it could be much further away.
Still, the game of guessing the date is a parlor game for geologists.
2005 production hit a plateau where price spiked 3 fold over a 42 months and no new production came on line. What does that mean?
Lets just do some basic math. It’s not conclusive, though it will never be until it’s in the rearview mirror.
Maybe another trillion in debt will make the problem go away.
Where’s my “end is nigh” sandwich board, I have an intersection to stalk…
