April 5, 2010

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Energy

Oil to peak in 2011 – official

When considering Peak Oil, the US Department of Energy usually stands among the most optimistic sources regarding the depletion of world oil reserves. Now its senior forecaster has come to accept that “Liquid fuel” production will peak next year and from then on decline slowly, with occasional increases, but still on a long term downward trend. And the US army scenario planners agree. They are now basing most of their scenario planning on just such an eventuality.
Glen Sweetnam, who is supervising the DoE’s next annual International energy outlook, is the most prominent official analyst on energy inside the Obama administration.
He says it may still be that some unforeseen source of oil suddenly emerges between now and next year, but admits that the source of that oil is currently “unidentified”

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