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IMF Taking Peakoil Seriously

DeepResource

Well, at least Michael Kumhof, deputy chief of the modeling division at the research department of the International Monetary Fund (IMF). Last month we already reported that the IMF had acknowledged that she at least understood what the word meant, now one of their employees takes the concept seriously, without wholeheartedly embracing it, yet. Kumhof is looking into the matter for ten years now and still has difficulty deciding whether the world has arrived on a liquid fuel production plateau or not and if, but it is certain that crude oil production is stable since 2005, without being certain whether this is due to geological or financial constraints. Kumhof nevertheless takes the idea of peakoil very serious as he is convinced of the very grave consequences. His models reveal that a continuous decline in production of 2% per year would lead to a price increase of oil of 800%…

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SMIPP Ltd is a DG Independent Power Plant Private Joint Stock Company. 25-60 MW Gas Turbines Power Generators

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