Last week, however, the Association for the Study of Peak Oil (ASPO), the oldest and most prestigious of the unbiased organizations studying peak oil, released a new estimate of the year in which peak oil will arrive. The new date, which is based on a reevaluation of the potential for further deepwater oil production, is now 2010 vs. the previous estimate of 2007. It should be noted that a few years back the ASPO moved the date back from 2010 to 2007 based on turmoil in the Middle East .
Until now, most independent observers have concluded that world oil production would peak within the next two or three years. We now have an authoritative estimate, which pushes the date to five years.
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