Deutsche Bank dates the peak of oil at 2014. Deutsche Bank is one of the world’s leading international financial service providers providing corporate banking and securities, transaction banking, asset management and private wealth management, with significant retail banking franchises in Germany and other selected countries in Continental Europe. According to its report, Energy Prospects After the Petroleum Age:
“The signs are mounting that a physical scarcity of mineral oil must be expected much sooner than anticipated…. When output starts to decline from this peak, with demand remaining constant or even continuing to rise, strong reactions in prices and economic upheaval are possible…. The end-of-fossil-hydrocarbons scenario is not therefore a doom-and-gloom picture painted by pessimistic end-of-the-world prophets, but a view of scarcity in the coming years and decades that must be taken seriously.”
