Re: CNN on

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

I don't mind controversy.  That is not the issue.  Peak oil is inevitable.  The
question is when.

Look, the US will definitely go into a recession -- a big one.  If the economy goes
down this quarter that does not prove that the recession will occur within a year.

On Fri, Sep 14, 2007 at 06:11:33PM -0700, The Buffalo In Da' Midst wrote:
>
> "Heinberg says world production of regular crude oil actually peaked in
> May 2005. He also says production in 33 of the 48 largest oil producing
> countries is in decline, and that global oil discoveries peaked in 1964."
>
>
> You knew this?:
>
> "The world will produce 118 million barrels of oil a day, up from its
> current 85 million barrels per day, just to satisfy projected demand
> by 2030, according to the Energy Information Agency."
>
>
Yes, if the economy grows & technology stays the same.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com