Experts discuss 'Peak Oil' at Denver conference

Durango Herald Online:
by Joe Hanel -- 11/12/2005
"Peak Oil doesn't mean the world is running out of oil, several speakers said. But it does mean the end of the buzz from cheap oil and increasing supplies.
'I have these discussions with my grandchildren,' said Henry Groppe, an energy consultant from Houston. 'They say, 'Gramps, are we going to run out of oil?' I say, 'No. Many years ago we ran out of $2 oil. Then we ran out of $10 oil. Then we ran out of $20 oil. And now we're running out of $40 oil.''
Oil closed at $57.53 a barrel Thursday, a three-month low.
U.S. oil production peaked in 1970. Speakers at the conference disagreed on when worldwide production might peak. Some said 2015; Groppe said it might have already happened. "