Thursday, June 3, 2010

Peak Oil Coming, Says EIA

The graph in this article is similar to others.  The nost noteworthy aspect is that it comes from the EIA, the statistical branch of the Department of Energy.  Of course the demand line is based on a price assumption.  Actual quantity demanded will go down to match the available supply.  . 

However, as the following graph shows, oil discoveries have declined drastically from a peak in the 1960's.

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