Peak Oil: The true

These figures, here they are. (They are supposed to be highly confidential, but they have been circulated among us petroleum geologists.) Note that they do not incude the extra-heavy oil

	Discoveries (Gb)	Production (Gb)
2007	10.0	26.0
2008	13.0	26.3
2009	12.4	25.8
Total	35.4	78.1

The reality is that for each barrel produced less than 0.5 barrels have been discovered, and not 1.6! Oil continues to be consumed faster than it is discovered. This situation has lasted for a quarter of a century now. 

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