Comment 48781

By A Smith (anonymous) | Posted October 04, 2010 at 20:46:37

In 1979, world crude oil production "peaked" at 62.67 Mbpd...

http://www.eia.doe.gov/aer/txt/ptb1105.html

It wasn't until 1996, 17 years later and trillions of dollars in new wealth creation, did oil production top that figure.

The lesson here, even if oil production has temporarily peaked, that does not mean greedy humans will not find a way to both create wealth, even while continuing to find new sources of black gold. Peak oil is about politics, not economics.

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