oh noes, Peak Oil?

[Jamougha]

Article in The Guardian

"The German-based Energy Watch Group will release its study in London today saying that global oil production peaked in 2006 - much earlier than most experts had expected. The report, which predicts that production will now fall by 7% a year, comes after oil prices set new records almost every day last week, on Friday hitting more than $90 (£44) a barrel."

"The results are in contrast to projections from the International Energy Agency, which says there is little reason to worry about oil supplies at the moment. However, the EWG study relies more on actual oil production data which, it says, are more reliable than estimates of reserves still in the ground."

Anyone know more on this? Seems likely to be a false alarm, but the reserves reported by OPEC are widely believed to be inflated.