{"id":63635,"date":"2022-09-29T06:27:01","date_gmt":"2022-09-29T11:27:01","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63635"},"modified":"2022-09-29T06:27:01","modified_gmt":"2022-09-29T11:27:01","slug":"peak-oil-has-finally-arrived-no-really","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63635","title":{"rendered":"Peak Oil Has Finally Arrived. No, Really"},"content":{"rendered":"
\n

Peak Oil Has Finally Arrived. No, Really<\/a><\/h3>\n
\n

Those who have called a top in oil may finally be proven right as\u00a0sharp global rate hikes hurt consumption.<\/strong><\/p>\n<\/div>\n<\/div>\n

\n
\n
\n
\n
\"Is<\/div>\n<\/div>
Is the sun setting on oil?\u00a0 \u00a0Photographer: Jason Alden\/Bloomberg<\/p>\n<\/figcaption><\/figure>\n<\/div>\n
\n
\n

I\u2019ve rarely felt more trepidation about writing a column than this one. But here goes: After more than a century of almost continual growth, the world\u2019s appetite for oil is peaking, and will soon enter terminal decline.<\/p>\n

That\u2019s hard to write, because those who\u2019ve called a top in\u00a0oil\u00a0have a forecasting record on a par with film producer Harry Warner\u2019s skepticism that people in the 1920s\u00a0wanted to see talking pictures.<\/p>\n

\n
\n
\n

Running on Empty<\/h3>\n

Liquid fuels production isn’t expected to regain its peak levels of 102.2 million barrels a day this year or next<\/p>\n