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Re: SC15

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May 08, 2006 09:16PM
http://news.lesswaiting.com/050806.html

INDICATIONS OF DECREASING WORLD OIL PRODUCTION
05/08 (LWN) Two more reports of decreasing international oil production have recently appeared in the news media.
Earlier today, South Africa's Mining Weekly publication and other media outlets reported on data issued by the Bank of Central African States which indicates that oil output from Central Africa is expected to fall fifteen percent by 2009. It stated that production is likely to reduce in Cameroon, Gabon, and Equatorial Guinea.

Also today, the Sydney Morning Herald issued an article about declining oil production in Australia. The article stated that although Australia once exported oil, it now imports a substantial amount of oil and is expected to spend about five times as much as it does now on oil imports by 2015.

These reports add to the already-widespread indications that world oil production will soon reach its highest level and begin decreasing.
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