Don’t worry yet. But let’s leave a little wiggle room in the article, just in case.
Cambridge Energy Research Associates said that, instead of a crest being reached sometime this decade, an inflection point in world oil output will occur sometime beyond 2020, after which production will plateau for several more decades…
PIRA’s Goldstein said that he was present when Simmons met with Saudi officials to gather information for his book and that he remains an “agnostic” when it comes to the peak oil debate.
It isn’t entirely clear, Goldstein said, whether today’s tight market reflects a limit in supply that is being reached, or if it merely signifies that the industry hasn’t made the necessary investments to keep up with rising demand.
“The truth is, I don’t know whether we’re resource-constrained or effort-constrained, and neither does anybody else,” he said.
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