The Kuwaiti study created its world model for peak oil based on 47 individual models for each major oil-producing nation. It also took a separate look at the Organization of the Petroleum Exporting Countries (OPEC), which includes nations that control about 35 percent of the world's oil reserves.
More complications may still change the ultimate end date for peak oil. OPEC's latest projection suggests that world oil demand will grow by 900,000 barrels per day in 2010, according to an Associated Press story this week. That follows a period of low oil demand during the height of the worldwide recession in 2009.
For now, Kuwaiti scientists say that the world continues to consume its oil reserves at a rate of about 2.1 percent each year. They plan to continue including new data that can refine the model as time goes by.
The post oil world is in sight.
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