According to a projection in the agency’s latest annual report, released last week, production of conventional crude oil — the black liquid stuff that rigs pump out of the ground — probably topped out for good in 2006, at about 70 million barrels per day. Production from currently producing oil fields will drop sharply in coming decades, the report suggests.
Some experts found the report’s projections troubling.
“It’s a perfect storm headed our way — a steady rise in global demand for oil crashing up against an increasingly limited supply of economically recoverable oil,” William Chameides, professor of environmental science at Duke University, wrote on his blog.
Peak oil is not just here — it’s behind us already.