The Establishment media insist that peak oil theory is a myth. This is why the following chart is not mentioned in the Establishment media. It tracks oil production. It is flat. This is global annual crude oil production in millions of barrels per day.
Here is the problem the West faces. We know that Asia has increased oil consumption. India and China are becoming major consumers of oil. Yet oil output has remained flat. Conclusion: the West’s consumption has fallen to offset Asia’s increased consumption.
Where is the increased oil that has been promised by the Establishment media? If there is greater consumption by Asia, and the West is at least maintaining its rate of consumption, the chart would reveal an increase in oil production. There has been no such increase.
The future is clear. As Asia increases its consumption of oil as its manufacturing sectors increase, Westerners will have to cut back on their consumption of oil. This is not theory. This is already happening.
Western voters are not ready for this. They have not budgeted for this.
I have. I hope you have.