t r u t h o u t
"Peak oil and Thanksgiving Day are now linked. Eminent geologist Kenneth Deffeyes predicted two years ago that the peak moment of world oil production would occur on Thanksgiving Day 2005.
Peak oil is a term for the point in time when world oil production will stop increasing and begin to decline. Deffeyes acknowledges that his prediction is just a guess based on extrapolated figures, but given all the unknowns, it may be as good as any other prediction about the end of the oil age.
One thing that is not in doubt is that the oil age will end. Geology and physics tell us that much. But because so many governments and corporations have not shared honest information about their oil reserves, they have not presented a reliable timeframe for the depletion of the oil resource.
The official agencies, the US Energy Information Agency and the European International Energy Agency, have said that world oil production will not peak until sometime around 2030. But last year after Royal Dutch Shell got caught inflating its reserve numbers in order to keep its share prices from plunging, the world suddenly started questioning the official numbers, and new reports have emerged from every quarter showing that peak oil is much closer than 2030. Most of these reports put the peak somewhere between 2006 and 2012. Others say we have already passed it."