$100,000 says we are running out of oil faster than you think, peak-oil group tells US consultancy The Association for the Study of Peak Oil-USA (Aspo-USA) is so sure that world oil-supply growth will fall short of a recent forecast by a US energy consultancy that it says it is willing to bet $100,000 against it. Last June, Cambridge Energy Research Associated (Cera) forecast that world oil production capacity will reach 112 million barrels a day (b/d) by 2017. Assuming the same ratio as today of oil produced to production capacity, this would mean actual output of something like 107 million b/d in nine years’ time – a 20 million b/d increase from today’s 87 million b/d. “Cera is forecasting an addition of 20 million barrels within a decade,” said Steve Andrews, co-founder of Aspo-USA. “We are betting you can’t do that with the drill bit.” Aspo-USA has questioned Cera’s record on forecasting