I have been watching and comparing the yearly crude oil production figures. In brief, (although they vary slightly depending on the source) as best as I can get, the yearly oil supply data has been:
2001: 76 million bpd
2002: 77 mmbpd
2003:79.5 mmbpd
2004: 82.4 mmbpd
2005: 83.6 mmbpd
As can been seen, it APPEARS that supply has been rising, so apparently there is NO problem for the world. But has anyone seen the graph on "The Oil Drum" site......as follows: (it blew me away!!!)
"WHY PEAK OIL IS PROBABLY ABOUT NOW"
World production stopped increasing in late 2004
http://www.theoildrum.com/story/2006/3/1/3402/63420
This graph takes away the yearly 'smoothing' out effect of averaging the production figures out over a year.
It shows that since 2005, world production has maxed out at about 84-85mmbpd.
Considering China and India(and the rest) are experiencing mega-booms and the world population/energy is supposed to be growing at 1-3% per year, it is clear that SOMETHING doesn't add up?
Seems to me that this is the proof the world needs.
Shouldn't this be on the front page of ever newspaper in the world!!
Is this really the beginning of the end?
...Andris