Yes. Oil peak production in North Africa is early 2010, peak gas in the north sea is 2004, peak oil 2008. The US recovery started as they started to exploit non

Yes. Oil peak production in North Africa is early 2010, peak gas in the north sea is 2004, peak oil 2008. The US recovery started as they started to exploit non-conventional gas, then oil, and Canada who exploited non-conventional felt it even less. Finance (and investing in developing new energy sources) of course had an impact , but energy availability is what drive production growth.