Slide 6 of 20
When world conventional oil production will peak is, of course, the bottom-line question. It has already peaked in the United States, in 1970.
1. Some U.S. and European evaluators have put this pivotal world event as early as 2004 - 2010.
2. The prospect that world oil production might actually start to decline in the next ten years is indeed disturbing.
3. The United States experience is illustrative of the typical growth, peak and decline sequence, as shown on the next two pages.