The Energy Watch Group, a major energy think-tank based in Germany, issued a major report on global Crude Oil: The Supply Outlook.

Report is available for download here.

"The major result from this analysis is that world oil production has peaked in 2006. Production will start to decline at a rate of several percent per year. By 2020, and even more by 2030, global oil supply will be dramatically lower (upwards of 50% lower). This will create a supply gap which can hardly be closed by growing contributions from other fossil, nuclear or alternative energy sources in this time frame.

"The world is at the beginning of a structural change of its economic system. This change will
be triggered by declining fossil fuel supplies and will influence almost all aspects of our daily
life."