EIA reports a new peak in crude oil at 75.282 million barrels per day

EIA reports a new peak in crude oil at 75.282 million barrels per day

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The US Energy Information Administration (EIA) is reporting a new monthly peak in crude oil and lease condensates for January 2011 at 75.282 million barrels per day. This is 600,000 barrels more than July, 2008 (74.669 million barrels per day).

The IEA had reported a new peak in world oil supply (that includes other fuel liquids at 89 million barrels per day in February 2011)

These are important for the whole peak oil argument. World oil production is still slowly moving up. It is not declining yet. Claims of peak oil having already occurred in 2008 or 2005 are wrong. Even with Libyan oil production out, there could still be new highs in world oil production.

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