Did Peak Oil occur in May, 2005?

The following article provides additional support to this view:


Mexico’s largest field, Cantarell, is in serious decline.  Mexico is a major supplier of light, sweet crude (the type our refineries need).  Enjoy the low price of gasoline while you can.  There may be notable reserves in the ground, but they cannot be developed quickly.  From a macroeconomic view, world demand is expected to outstrip the net supply.  New field production will not fully offset current field depletion.

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