27 Oct '12, 5pm

#peakoil IMF study: Peak oil could do serious damage to the global economy: The world isn’t going to run out of ...

#peakoil IMF study: Peak oil could do serious damage to the global economy: The world isn’t going to run out of ...

IMF study: Peak oil could do serious damage to the global economy The world isn’t going to run out of oil anytime soon. But there’s still concern among various geologists and analysts that our oil supply won’t grow as quickly or as easily as it used to. We’ll have to resort to harder-to-drill oil to satisfy our crude habits. More expensive oil. That would push prices up. And high oil prices could act as a drag on growth. These spigots are getting mighty squeaky… (Associated Press) This, at any rate, is the basic idea behind “peak oil.” And there’s some reason for worry. Between 1981 and 2005, world oil production grew at a steady pace of about 1.8 percent per year. All was well. But starting around 2005, oil production appeared to plateau. And, since demand for oil kept rising, especially in countries like China and India, that caused prices to soar. Oil doesn’t get much c...

Full article: http://peakoil.com/consumption/imf-study-peak-oil-could-d...

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Tech Talk – Global crude oil and Iran | Peak Oil News and Message Boards

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