Exploring Hydrocarbon Depletion
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stu wrote:This may seem like a real stupid observation but I'll try anyway.
At the Edinburgh conference Matthew Simmons said he believed that demand would outstrip supply at the end of this year. If this happens does this mean the beginning of the end of economic growth?
Demand can outstrip supply as long as inventories hold. After that, demand destruction must balance demand to supply.
stu wrote:If this happens does this mean the beginning
of the end of economic growth?
If true, could that be said for the world then? about 33% could be saved without major disruption to critical services?
what are we defining as critical, because couldn't we say that growth is critical?
With the world consuming around 82 million, 42-gallon barrels of crude a day and with demand expected to increase to around 86 million barrels in the second half of the year, non-OPEC producers such as Norway, Russia and Mexico could take up the slack
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