From an
analysis by Douglas Low on EnergyBulletin.net:
A conference held in Cork, Ireland by the Association for the Study of Peak oil and Gas (ASPO) last week heard representatives from industry forecast that the best data available data pointed to reserves of 250 billion barrels of yet-to-find global conventional oil, and as a result oil production would plateau at less than 100 million barrels per day before 2020.
This was followed up by a range of speakers who stated that current trends in bringing new projects onstream indicate that global oil production would peak on or before 2012, a forecast that coincides with the latest announcement from International Energy Agency that an oil crunch will occur by 2012.
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