Oil Production

So when experts discuss when oil production will begin to decline, the world pays heed. The question now making the rounds in energy circles: Has oil production already peaked? If it has - or if a peak lies only a few years away - the repercussions would be huge. It could intensify a scramble by oil importers to tie up existing reserves. Decline could lead to scarcity and higher prices, possibly recession, while prompting an urgent push to alternative fuels and conservation.