The Dept of Energy joins the peak oil parade

They're weaving and dodging, but basically they're on board ...

Goodbye to cheap oil | Salon

Every summer, the Energy Information Administration of the U.S. Department of Energy issues its International Energy Outlook (IEO) — a jam-packed compendium of data and analysis on the evolving world energy equation...

... The IEO predicts a sharp drop in projected future world oil output (compared with previous expectations) and a corresponding increase in reliance on what are called "unconventional fuels" — oil sands, ultra-deep oil, shale oil and biofuels...

... 81.5 million barrels produced in 2006 ... projected 2030 figure to just 93.1 million barrels per day...

They're much more pessimistic than they were about three years ago. They're not saying we'll run out of hydrocarbons, in fact they predict our 2030 oil production will be about 13% higher than it was 3 years ago. The catch is worldwide energy demand would normally rise by far more than 13% over the next 20 years.

That demand won't be filled by traditional oil supplies. We'll either do more with far less energy or we'll bake the planet with CO2 producing oil alternatives.

Peak oil is upon us. Expect your gas price to continue to rise.