1. The key to Peak Oil Production of Oil versus Discovery

2. Peak oil production in past World map of Peak Oil Production http://www.youtube.com/watch?v=ow1w33VAPII&feature=relate d

3. To Peak Oil People there is a General rule of thumb that there is a 30 to 40 year relationship between peaking of discoveries and a peaking of production.

4. MICHAEL LYNCH: Actually, I think the problem here is that Julian and a lot of the people making these arguments are not that familiar with the technical terms in the oil industry. The estimates that there's about two trillion barrels of oil resource are actually done by some very simplistic models, which have not always failed, but almost always failed on both the national and a global level. The oil conventional oil resource base, the oil in place, is about eight to ten trillion barrels. And right now, most estimates are that about 40% of that will be recovered, in other words, about three, three-and-a-half trillion. But the amount we'll recover will grow over time. So we're not -- we're really not even close to halfway through the conventional oil resource base. Michael Lynch, President of Strategic Energy & Economic Research. Previously, Michael was Director of Asian Energy and Security, at the Center for International Studies, M.I.T., as well as a Lecturer in the Diplomatic Training Program at the Fletcher School of Law and Diplomacy at Tufts University. April 28, 2006 http://www.democracynow.org/2006/4/28/has_global_oil_production_reached_maximum http://www.democracynow.org/2006/4/28/has_global_oil_production_reached_maximum Key question is what is the lag between discoveries and eventual peaking?

5. At the moment Norway Production is in decline See reserve peak for details

6. Have we seen “Peaking” discussion before where it didn’t occur? Lord Kelvin 1881

7. So, how much oil is there? World Oil Consumption Great video of the globe showing current use http://www.youtube.com/watch?v=imp082AMNH8&feature=related World map of Peak Oil Production http://www.youtube.com/watch?v=ow1w33VAPII&feature=related CNN: Global oil reserves http://www.youtube.com/watch?v=VXYOOvGLzfI&feature=related