Game Over?
Petroleum fields in decline, despite fracking

The International Energy Agency released its annual World Energy Outlook on Nov. 12, 2013. Annually each November, the agency provides a status report and offers its forecast of petroleum supplies over the next 20-25 years. The IEA forecast this year is pessimistic: Here is the chart of production from existing fields, in millions of barrels per day (mb/d): Continue reading