The Energy Watch Group (EWG) in Berlin, Germany reported this week that a study showed that world oil production peaked in 2006 — far earlier than expected.

EWG analysed oil production figures and predicted it would fall by 7 per cent a year, dropping to half of current levels by 2030. The report also predicts significant falls in gas, coal and uranium production. The group warns that supply shortages could cause “a meltdown in society,” leading to scenes of mass unrest.