AFN calls peak oil
Posted: Thu 30 Oct 2008, 04:32:33Hi all
Yesterday while driving on the German Autobahn I listened to AFN Europe.
In the news segment they had a piece on a new IEA energy study to be released within the next couple of days.
They simply came out with this line:"We are running out of oil much faster then previously thought, according to a new study done by the IEA. Production will decline 9% per year..."
There was some talk as to eventual dire consequences due to lack of investment in new capacity as well.
To me that is quite remarkable. First, AFN never acknowledged the idea of PO and they basically present it as a matter of fact. Secondly, an official 9% decline rate is downright scary.
Unfortunately, I have no link to this broadcast. Maybe we have some savvy people on board that may be able to dig this up.
Anyway, has anybody heard about the quoted IEA report?
Yesterday while driving on the German Autobahn I listened to AFN Europe.
In the news segment they had a piece on a new IEA energy study to be released within the next couple of days.
They simply came out with this line:"We are running out of oil much faster then previously thought, according to a new study done by the IEA. Production will decline 9% per year..."
There was some talk as to eventual dire consequences due to lack of investment in new capacity as well.
To me that is quite remarkable. First, AFN never acknowledged the idea of PO and they basically present it as a matter of fact. Secondly, an official 9% decline rate is downright scary.
Unfortunately, I have no link to this broadcast. Maybe we have some savvy people on board that may be able to dig this up.
Anyway, has anybody heard about the quoted IEA report?