Oil Production Will Peak In 2014, Study Predicts

Researchers from Kuwait University predict that world conventional crude oil production will peak in 2014 — almost a decade earlier than some other predictions. The team explains that scientists have developed several models to forecast the point at which oil production reaches a maximum and then declines, and some put the date at 2020 or later. One of the most famous forecast models, called the Hubbert model, accurately predicted that oil production would peak in the United States in 1970. read more

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