It is downhill all the way for oil, according to a study by the Energy Watch Group (EWG) in Berlin, Germany. It reported this week that world oil production peaked in 2006 – far earlier than expected.
EWG analysed oil production figures and predicted it would fall by several per cent a year, dropping to half of current levels by 2030. The announcement comes as oil prices reached record highs last week, at more than $90 a barrel, and contradicts optimistic projections by the International Energy Agency in Paris, France.
The report also predicts significant falls in gas, coal and uranium…
