(Photo of IEA director Nobuo Tanaka visiting Russia)
Ready for peak oil, anybody? The Financial Times has gotten hold of a draft of the International Energy Agency's annual report, which states that the rate of output decline is 9.1 per cent at the world's biggest oil fields. This is the first ever authoritative public study of oil reserves - most countries such as Saudi Arabia prefer to keep the data as well-kept state secrets.
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