So much for peak oil doom!
Source: U.S. Oil Production Will Exceed Its 1971 Peak This Year – Hit & Run : Reason.com
Only a decade ago, the world was in the grip of one of its periodic “peak oil” panics. Dire predictions everywhere announced that humanity was on the cusp of a disastrous and accelerating decline in oil production. One prominent analyst declared in 2009 that global oil production had peaked at 82 million barrels per day in 2008 and would thereafter begin declining at a rate of 2.2 million barrels per day. Reaching peak oil would result in a “meltdown of society” and a “dying civilization” with a “landscape littered with the rusting hulks of SUVs.”
What happened?
Drill baby drill. Frack baby frack.
