No one knows when the world will peak until after the fact that is the problem it is a very difficult risk management problem.
We do know that current decline rates are around 3.5million barrels per day per year, so the world has to find another saudi every 3 years just to continue on the plateau that has existed for the last 3 years. Exactly how many saudi equivalents do you think remain in the world untapped??
The megaproject list keeps getting worse as projects slip or fail to deliver expected supply..
What is irresponsible is blaming "speculators" for the increase in price of oil when anyone with 2 neurons to rub together can clearly see the supply problem and the world needs to very quickly move away from oil so people need to be told....
