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Christophe de Margerie, the boss of Total, thinks that the world's oil production may be nearing its peak http://apocadocs.com/s.pl?1200168687
"Mr de Margerie is careful to point out that he is not predicting "peak oil" in a geological sense. His definition of peak oil is "when supply cannot meet demand". He believes that the fuel that the world needs to keep its cars and factories running may well be out there, somewhere. It is just getting harder and harder to extract, for technical as well as political reasons. For one thing, he points out, the output of existing fields is declining by 5m-6m b/d every year. That means that oil firms have to find lots of new fields just to keep production at today's levels. Moreover, the sorts of fields that Western oil firms are starting to develop, in very deep water, or of nearly solid, tar-like oil, are ever more technically challenging. There is not enough skilled labour and fancy equipment in the world, he believes, to ramp up production as quickly as people hope."
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The ApocaDocs say:
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Ah -- not in the "geological sense," just in the "geopolitical, economic, pragmatic, operative" sense.
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