Another Blow to “Peak Oil” Theory

Peak oil theorists have yet another reason for caution in today’s report from the U.S. government’s Energy Information Administration. Petroleum production in the U.S. in 2009 was at its highest rate at least since 2000 and consumption continued a decline pattern that started in 2006, prior to the onset of the recession.

The U.S. EIA is also anticipating a 0.4% decline in residential electricity prices in Ontario in 2010, a stark contrast to the price outlook in Ontario.

One Comment

  1. I believe that peak oil is accurate and that we are now past the point of peak oil. I think many of the current events have to do with this senerio and it won’t be long before the main stream media and population wake up and understand what is going on. For me and my family, we are preparing for the life after the crash.

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