(2004-06-09) Peak Oil Conference

There was a Peak Oil conference in Berlin May in late May. North Sea production is declining at an increasing rate, having peaked in 1999. Not at the predicted flat rate of decline of 7%, but gradually accelerating from 7% to 8.5% to 11%. And the number of major new oil fields discovered around the world fell to zero for the first time in 2003, despite an obvious increase in technological expertise. (Cheap Oil)