http://www.energytribune.com/articles.cfm/4454/What-Peak-Oil
The International Energy Agency’s new forecast for medium-term oil and natural gas market was issued yesterday. In contrast to the IEA’s warnings of last summer concerning an imminent oil supply crunch the agency now sees ample supplies to accommodate the level of demand growth it anticipates for the next five years. Yet while this scenario does not envision a peak in global oil supplies before 2015 its components offer ample cause for concern about the growing market power of OPEC and the risk of geopolitical disruptions. It also signals the growing importance of non-traditional sources of liquid fuels including natural gas liquids (NGLs) and biofuels which are included in the IEA’s oil supply & demand balance.