We have passed the zenith of world oil production, said the expert Matt Simmons
Bloomberg news interview with Matt Simmons (oil investment consultant and former adviser to Dick Cheney)
Question (Bloomberg): Tell me how you have come to the conclusion we have reached the zenith oil.
Response (Matt Simmons): If you look at the numbers, and follow what is happening, starting with the large Mexican oil field, Cantarell, which is currently in a serious state of decline, then we look North Sea, the United Kingdom and Norway, to me it is obvious that these three areas could be declining by about 800,000 to 1,000,000 barrels of oil a day in the year downturn shatters 2007.Este practically all the gains in new production that will be placed on the market soon.
addition, most of our oil fields are very old. Many of them are now in decline. Middle East has largely exceeded capacity. They have several projects are under way, but most of them do not reach the market until 2008 or 2009, and we're running out of time.
... I am firmly convinced that during the next year or two, the issue of peak oil will replace global warming as the issue on which we all talk, caring and working. Additional information and extensive discussion in English on The Oil Drum and Energy Bulletin
following video clip from an interview with Bloomberg
Matt Simmons
video taken from Youtube
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