Oil production at seven of the world's largest oil companies is about to peak. So says a research report by independent energy research firm John S. Herold, Inc of Norwalk, Conn. Herold is known for having predicted Enron's fall months before anyone else caught on.
PowerSwitch intercepted this most recent report. It says that BP, ChevronTexaco, ConocoPhillips, Eni, Exxon Mobil, Royal Dutch/Shell, and Total are all expected to reach peak oil production between 2007 and 2009 and thereafter experience permanent production declines.
The case for an early oil peak grows.
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