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If You're In Any Doubt As To The Severity Of Peak Oil

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Trying to get as much money as we can for what we have left. The human race is pathetic:

Output down

Meanwhile, the monthly Royal Bank of Scotland oil index puts the average daily output of oil in June at 1.263 million barrels worth £45.3m a day, or 6% down on the previous month.

Combined daily oil and gas production is put at 2.243 million barrels of oil equivalent worth £69m.

Although some of the decrease is for seasonal reasons, including summer maintenance shutdowns, the figure for oil alone is down 11.4% on June last year, and the combined oil and gas figure is down 12.9%

The bank noted: "The year-on-year decline in oil and gas production in the North Sea continued through June, despite near-record investment in 2006."

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