According to the Energy Watch Groups October 2007 report, the amount of oil discovered each year also peaked during the 1960's at around 55 Gb/year, and has been falling steadily since (in 2004/2005 it was about 12 Gb/year).
"Our principal constraints are cultural. During the last two centuries we have known nothing but exponential growth and in parallel we have evolved what amounts to an exponential-growth culture, a culture so heavily dependent upon the continuance of exponential growth for its stability that it is incapable of reckoning with problems of nongrowth." M. King Hubbert
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