I always despair when technical reviewers like the register take positions that are so obviously non-technical and totally out of touch with reality and the raw numbers.
There are have been dozens of reports now from government and military sources that have verified Peak OIl. The most recent one is out of Australia which was just leaked in the past few weeks by the Telegraph.
Basically, the oil sands and deep water have allowed the worlds oil to plateau rather than decline. But that will soon end.
You can read the report here:
THe money quotes from the report, which is 400 pages and goes into excruciating detail on all of the worlds oil production potential is this:
"According to the aggregation of predictions of annual potential oil production, world production of conventional oil is currently just past its highest point. A predicted shallow decline in the short run should give way to a steeper decline after 2016. But of course, deep water and non-conventional oil production are growing strongly, turning a slight decline into a plateau (Figure 13.11 and Table 13.3).
Thus the prognosis is for a slightly upward sloping plateau in potential production from 2005 to 2016, before crude oil production declines begin in earnest. Figure 13.12 and Table 13.3 show that it is the projected expansion of deep water and non- conventional heavy oil production that turns what is predicted to be a 2006 peak in conventional oil into a more drawn out plateau over 10 years for total crude."