Thursday, February 28, 2008

Oil Ain't Coming Out Of the Ground Any Faster

"It may be blasphemous to ponder in a region that produces a good deal of the world's hydrocarbon-based energy," we began earlier this week, "but what if Peak Oil has already occurred?"
According to the following graph prepared by Bud Conrad of the Casey Energy Speculator, this may not be such a preposterous proposition...

"My opinion is that it's increasingly likely that we actually set an all-time record in May 2005 of 74,252,000 barrels per day," states Matt Simmons, founder and chairman of the world's largest energy investment banking company, Simmons & Co. International.

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