Reply to "Exxon knew it all along"

ContendahhOld Faithful

direstraits posted:
We reached the so called Peak Oil in 2000 and have kept trucking upwards.

_____

In about 1978, I was in a government seminar that brought in M. King Hubbert (of the famous "Hubbert's pimple") to lecture us on his Peak Oil theory. After he had spoken his piece, the moderator asked everyone to estimate what the cost of a gallon of gasoline would be in the year 2000. The average estimate was in the range of $8 to $10.

The industry tries to project future production. Check out the 2004 graphic below, and note especially the predicted DECLINE in U.S. production. Then read the link immediately below for real world current information on U.S. production.

http://americasmarkets.usatoda...-highest-since-1972/

4/29/168:39 AM

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