US report acknowledges peak-oil threat

It has long been denied that the US government bases any policy around the idea that global oil production may be in terminal decline.

But a new US government-sponsored report, obtained by Aljazeera.net, does exactly that.

This brand new senior-level report on “peak oil” is unprecedented in US government circles. It is not just the existence of the report itself that is such a landmark in the current oil debate. Its conclusions also pull no punches.

“World oil peaking is going to happen,” the report says. Only the “timing is uncertain”.