Post Carbon Fellow Richard Heinberg was interviewed by Firstline news on his recent tour of New Zealand.
From the article:
“Conventional oil production is at about a little over 75 million barrels a day, where it’s been since 2005,” he says. So even with very high, persistently high oil prices over the past few years – in 1998 a barrel of oil was $12, today it’s ten times that – even with very high oil prices we’re seeing stagnant rates of production.”
Mr Heinberg says Mitt Romney’s claim that the United States could be oil-independent within eight years is unrealistic.