German group: “Peak oil is now”
The current developments on the global oil markets confirm the core message of the study presented by the experts of the Energy Watch Group, a comprehensive analysis of empirical data regarding worldwide oil production. A temporary drop in prices changes nothing: The hope that the ostensible speculation bubble will burst is futile. It is highly probable that worldwide oil production has already reached its apex and will continue to fall back. “Peak Oil” is now. (Excerpts)
October 30, 2008