The Wall Street Journal recently printed an excerpt from "The Next Oil Crisis Looms Large – and Perhaps Close," printed in the Aug. 28, 1998 issue of Science magazine.  According to a study from the International Energy Agency of the Organization for Economic Cooperation and Development, "sometime between 2010 and 2020 the gush of oil from wells around the world will peak at 80 million barrels per day, then begin a steady, inevitable decline."

Well, not quite.  According to the U.S. Energy Information Administration, in 1998, when the article was written, global oil production was 75.7 million bbl/day.  In 2014 it was 93.2, and our problem is too much oil.

It's useful to remember such things when the "experts" grandly tell us what's going to happen.

Henry Percy is the nom de guerre of a writer in Arizona.  He may be reached at saler.50d[at]gmail.com.