[Diesel_Dave]

The whole basis of the presentation assumes that production levels are indicative of supply, i.e., if the production levels are plateauing then that means we're almost out of oil. That's a false hypothesis. While supply does affect production, there's whole lot more to it than that.

For one thing, production levels are also based on demand. Demand is highly dependent on economic conditions--the better the economy, the more people need oil to do work. He's based his presentation on the last 7 years. That's basically Sept 11, 2011 until today. Have you looked at the global economy since Sept. 11? Not good. If times are tough, people use less oil so less oil gets produced, even if the supply is available.

Now, there's even more to it that what I've said above, but my main point was that production levels are not necessarily indicative of supply.