Letters

08/09/2004
We are running out of oilWe are running out of oil. In the US, discovery of oil peaked back in 1950. US production of oil peaked in 1970, 20 years after the discovery peak. Worldwide, it is a fact that oil discovery peaked in 1965. Here we are nearly 40 years later, and virtually all independent experts say world oil production will peak about 2005. Oil company experts and the Department of Energy put the peak between 2010 and 2020, although it is rumored they projected supply to meet projected demand so as not to alarm the public. The peak is critical, because it is when flat oil production fails to keep up with increasing world demand that prices go sky high. No respected expert puts th...
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