EnergyBulletin.net | You did not notice but the third world war started ? it is the fight for dominance in oil and trade | Energy and Peak Oil News
I started off this morning by reading the SacBee and they had an interesting article on this subject...Titled "Experts Fear Day When Oil Runs Low"
In the Bee article, it was said that most experts disagree as to when global output will peak. The government says sometime between 2021 and the next century. Some say it has already happened. The main reason for the disagreement is the fact that China and India are racing towards a higher consumption figure with each passing day. The US currently uses a per capita average of 25 barrels of oil per year. The Chinese currently use 1.3 barrels and India uses less than a barrel.
Sidebar...K. Deffeyes and M.K. Hubert accurately predicted that US reserves would peak between 1965 and 1970. They sure did. Using a similar formula...Deffeyes predicts the global peak occuring this Thanksgiving. Happy holidays!
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