It is important to realize that the reason for peak production need not be entirely geological. If the geologically-driven oil production rate peak coincides with economic collapse and a downturn in industry then the oil production rates will be reduced along with the consumption of oil. There is only so much room to store produced oil and when
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We are past the peak of world oil production which was July 8, 2008 at 74.82 million barrels a day for conventional crude, lease condensate and Canadian tar sands.
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I do agree that we aren't getting out of this; the long decline has begun. The critical question is how the decline will manifest. So far, things have played out almost exactly as Staniford predicted, so I'd look to his analysis first. If I was still paying attention anyway; too busy growing food.
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In conclusion, while we may have hit peak oil due to political reasons, it is not as easy to ascertain that as it is for geological concerns. If we see a major field production collapse, then it will be safe to say that we hit political peak oil in '08. Until then the 'true' peak is still on the table. No sense repeating the club of romes mistake.
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I wonder what happened to the second most productive oil field complex in the world anyhow? Oh yeah...
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Doesn't hurt or help me to be cautious here, we're just random people who have no ability to affect anything talking about stuff on the internet.
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