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10/25/2007: "Peak oil has arrived, says study"

The world has reached the point of maximum oil output and production levels will halve by 2030 -- a situation that will eventually lead to war and disaster, a report claims.

The German-based Energy Watch Group released a report Tuesday saying the world's oil production peaked in 2006 and from now on will drop by around 3 percent a year. It says that by as early as 2030, the global availability of oil will be half of what it was at its peak.

"It's a very serious result," said Hans-Josef Fell, a German lawmaker from the environmentalist Green Party who commissioned the report. "I fear the world will come into a big economic crisis in the coming years."

[ Bad economy, declining energy, rising disease and environmental toxicity, climate out of control, political instability... yep, modern society's doing a great job... if it works for Satan! (or religious bad guy of your choice, my preference is Silver Surfer)

http://www.cnn.com/2007/BUSINESS/10/24/oil.decline/index.html