Peak Oil has been the subject of debate for many years and has largely been ignored by industry optimists but has continually worried many industry experts.Mar 07, 2008 – The big question has it seems, finally been answered with new projections placing the point of peak oil occurring within the next 10 years. The Renewable Energy Centre.co.uk today commented on the debate and the possible consequences of an early end to the UK’s oil dependant existence. It has been cited that the global discovery of oil actually peaked in 1962 and has been in decline ever since. This has been backed by fact that oil companies have cut oil exploration spend over the last 10 years and production of oil has stagnated at 85m barrels per day. More >>>
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