Bazz,

"Actually it occurred in December 2005. "

Well only if you redefine what peak oil means/meant. Previously we were informed that peak oil would occur because we'd start running out of the resource. Demand would remain but supply would dry up.

But that never happened. Now we find those who fell for the whole thing redefining the term. Now its about crude oil peaking or something.

The critics of peak oil always said that, as traditional oil became less accessible, other sources of supply would come on line.

Enter fracking.

Now we are informed by those same peak oil promoters that fracking is a passing phase. Ever since it started to take off, we been told that fracking will soon decline or go bust. And when it doesn't happen, we get told it'll happen soon.

Its now estimated that there are over 2 trillion barrels of tight oil in North America. Fracking isn't going to end in our lifetimes.

As I've said many times on this forum, man has never run out of a resource and never will.

man has never run out of a resource and never will.
mhaze,
Never say never !

Mhaze, yes you are right the peak was redefined as peak crude oil.
The problem is fracked oil is actually known as "tight oil" for a good
reason as it comes slowly out between cracks and grains of sand or rock.
I am no geologist so I cannot describe it better.
Never the less the big problem is that most fracked wells are just
about finished in three years. That is why there are selloffs of
drilling licences to keep the companies operating.
That was what BHP did and then got out. The bankruptcy rate is high.
The present fall in active wells will be interesting to watch.
For some reason they seem to be reluctant to start fracking here in
Australia despite suggestions that an area near Coober Peady looks promising.
Another problem it is "light" oil and must be mixed with heavier grades which need to be imported.
Companies are watching it all very closely.