With every passing month, evidence peak world oil production has either passed or is getting very close becomes stronger. Last week, the world peak oil conference in Ireland, heard that the best available data now suggests there may only be about 250 billion barrels of oil left to find rather than the generally accepted figure of 700 billion barrels put forth by the USCGS in 2000. Keep in mind that 250 billion barrels is only about eight years worth at our current 31 billion barrel per year rate of consumptions and that, should these billions of barrels actually be found, they will be extremely difficult to find and exploit.
