Has Petroleum Production Peaked, Ending the Era of Easy Oil?

Despite major oil finds off Brazil's coast, new fields in North Dakota and ongoing increases in the conversion of tar sands to oil in Canada , fresh supplies of petroleum are only just enough to offset the production decline from older fields. At best, the world is now living off an oil plateau–roughly 75 million barrels of oil produced each and every day–since at least 2005, according to a new comment published in Nature on January 26. ( Scientific American is part of Nature Publishing Group.) That is a year earlier than estimated by the International Energy Agency–an energy cartel for oil consuming nations

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Has Petroleum Production Peaked, Ending the Era of Easy Oil?