28 Jul '14, 11pm

Has The Gulf Of Mexico Hit Peak Oil?

Has The Gulf Of Mexico Hit Peak Oil?

There are enough articles on the “myth of peak oil” floating around the Internet to fill a book; and there are enough books on the subject to fill a small library. One of the common threads throughout these publications is their lack of credible sources, because not only is peak oil real, but we’re rapidly approaching that threshold. An example that is smacking the United States and the oil industry in the face right now is floating in the Gulf of Mexico. According to a new government report , oil and natural gas production in the Gulf has been steadily declining for the last decade. The report looked at oil production in the Gulf of Mexico on federal lands only, not any privately-held lands where production is taking place. Since 2010, according to the report , the annual yield of oil from the Gulf has fallen by almost 140 million barrels. While the Gulf region still acco...

Full article: http://www.desmogblog.com/2014/07/28/has-gulf-mexico-hit-...

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