Tuesday, March 15, 2005

Oil Production About to Peak

While forecasts for the point at which oil production worldwide begins to decline have been made by analysts for years, John S. Herold, Inc. breaks the analysis down company by company. Noteworthy for being the firm that first identified the pending collapse of Enron by bringing to light their dwindling profit margins, this latest analysis shows seven of the major oil companies reaching production peaks within 48 months. From there, it's all downhill.

As the executive vice president of Herold puts it, "If the dinosaurs are going extinct, we are trying to figure out which ones are going to go extinct the soonest."