Amvet

The 'Peak Oil' Myth: New Oil Is Plentiful

Peak oil is about oil production, not about estimated oil in stone.

Current production is around 85 million bbls per day. Low end of estimated yearly production decrease per field: 5%. This means that about 4 million bbls per day of new production is needed each year. That means 40 increases of 100,000 bbls per day each.