World oil production has already peaked and will fall by half as soon as 2030, according to a report which also warns that extreme shortages of fossil fuels will lead to wars and social breakdown.
"The world soon will not be able to produce all the oil it needs as demand is rising while supply is falling. This is a huge problem for the world economy," said Hans-Josef Fell, EWG's founder and the German MP behind the country's successful support system for renewable energy.
http://www.guardian.co.uk/oil/story/0,,2196435,00.html
Mexico has just recently came clean and admitted they are headed into an oil crisis and the peso steadily falls against the dollar.
http://www.iht.com/articles/2007/10/22/bloomberg/bxatm.php?WT.mc_id=rssbloomberg
http://www.hispanicbusiness.com/news/newsbyid.asp?id=79942
2007-10-23
13:22:10
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