#14: Erik Townsend on Living The Macro Dream
Superinvestors and the Art of Worldly Wisdom
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The Decline of Oil Production
Conventional oil production peaked in 2005. It has not been exceeded since then, according to the International Energy Agency. The major oil fields in the Middle East are all in decline. Estimates are that by 2030, they will have declined dramatically from their peak production. You'll be able to discover more oil with deep water, with tar sands, and with these other exotic technologies - but it all costs money.
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