[news] The Peak is Nigh

[Resist!ca]

"Everyone knows that oil prices have grown volatile in recent months. Explanations include rising demand from China and supply limits resulting from pipeline sabotage in Iraq. Some commentators note that global oil production may be nearing its historic peak, since new discoveries have been dwindling since the 1960s and spare production capacity is evaporating. One by one, countries that were oil exporters are becoming net importers (US oil production peaked in 1970; natural gas production here is also in decline)."

URL: http://resist.ca/story/2004/11/3/14158/0817