World's 400 largest oilfields depleting at 9.1% annually [Financial Times]

Heinberg: July 2008 was the all-time peak in world oil production.

clipped from www.postcarbon.org The Financial Times has leaked the results of the International Energy Agency's long-awaited study of the depletion profiles of the world's 400 largest oilfields, indicating that, "Without extra investment to raise production, the natural annual rate of output decline is 9.1 per cent." This is a stunning figure.